Markets, networks and management

Esko Kilpi, Interactive Value Creation, Mar 19, 2012
Commentary by Stephen Downes

Some good reflections. One is that network science tells us we cannot understand the workings of a system by looking at the parts. I would add that this is one of the major differences between network theory and systems theory. "The suggested unit of analysis is now communication and emergence, not entities." Additionally, the same phenomena look different when viewed in this way. "Self-interest in the network economy looks different from self-interest in the market economy; Individual success is likely to take place through enriching relationships, being part of networked interaction aiming to enable both the individual and the collective effort."
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