The Economic Philosophy of the Internet of Things - 9780367589479

Taylor & Francis

The Economic Philosophy of the Internet of ThingsAuthor(s): James Juniper\nFormat: Paperback\nPublisher: Taylor & Francis Ltd, United Kingdom\nImprint: Routledge\nISBN-13: 9780367589479, 978-0367589479\nSynopsis\nTo properly understand the nature of the digital economy we need to investigate the phenomenon of a \""ubiquitous computing system\"" (UCS). As defined by Robin Milner, this notion implies the following characteristics: (i) it will continually make decisions hitherto made by us; (ii) it will be vast, maybe 100 times todays systems; (iii) it must continually adapt, on-line, to new requirements; and, (iv) individual UCSs will interact with one another. This book argues that neoclassical approaches to modelling economic behaviour based on optimal control by \""representative-agents\"" are ill-suited to a world typified by concurrency, decentralized control, and interaction. To this end, it argues for the development of new, process-based approaches to analysis, modelling, and s.