... At the same time, peer power presents difficult challenges for anyone invested in the status quo. Corporations, those citadels of command-and-control, may be in for the biggest jolt. Increasingly, they will have to contend with ad hoc groups of customers who have the power to join forces online to get what they want. Indeed, customers are creating what they want themselves -- designing their own software with colleagues, for instance, and declaring their opinions via blogs instead of waiting for newspapers to print their letters. "It's the democratization of industry," says C.K. Prahalad, a University of Michigan Stephen M. Ross School of Business professor and co-author of the 2004 book The Future of Competition: Co-Creating Unique Value with Customers. "We are seeing the emergence of an economy of the people, by the people, for the people." ¶ That suggests even more sweeping changes to come. Howard Rheingold, author of Smart Mobs: The Next Social Revolution, sees a common thread in such disparate innovations as the Internet, mobile devices, and the feedback system on eBay, where buyers and sellers rate each other on each transaction. He thinks they're the underpinnings of a new economic order. "These are like the stock companies and liability insurance that made capitalism possible," suggests Rheingold, who's also helping lead the Cooperation Project [pdf] a network of academics and businesses trying to map the new landscape. "They may make some new economic system possible." ... Link: BusinessWeek.
Howard Rhinegold (above) has written a report published by Institute for the Future called Technologies of Cooperation (pdf). Recommended, as is the BusinessWeek article. --Dennis