Both Matthew Yglesias and Alex Tabbarok seem to think we disagree about the role of technology and inequality. We don't.
As Tom Noah's series on inequality suggests, there are lots of questions when it comes to inequality. But what's confusing people here is one particular question: skills-biased technological change. That's where technology changes (we now have computers) and those who know how to use the new technology pull away from those who don't. In this case, the scenario would be that the computer-literate start making a lot of money, while those who aren't comfortable with laptops and Firefox lose out.
That explanation is intuitively appealing, but it doesn't fit the facts. For one thing, Europe had the same technological revolution, but without the attendant increase in inequality. For another, the startling changes in inequality was between those at the 99th percentile and those in the 90th percentile. It was the tippy-top pulling away from the top, or what I like to call "the conehead economy." If you imagine the economy as the person, it's grown eight inches, and most of that growth has been in its forehead.
Matt and Alex both double back on this and note that technology does play a major role here, and they're right: The Internet, television and other forms of mass media and communication make it much easier for one person or firm to serve a national or international audience. To use an easy example, Kobe Bryant can make more money because the Chinese watch his basketball games and pay him to endorse their products (that's not a random example, incidentally).
But saying that the rise in inequality is partly the result of technological change is not the same as saying it's the result of skills-biased technological change. It's not that satellite television has created a need for more basketball players and that need isn't being filled. If that were the case, the answer would be easy: Train more basketball players. It's that satellite television has made it much, much more lucrative to be one of the world's top basketball players. It's not about skills, but about the opportunity to make money. Training more basketball players won't really help reduce inequality or spread opportunity in that world. Higher tax brackets for the super-rich, however, might.
Graph credit: Slate.
Social games are the rage these days, but making money from them isn’t easy. Gamers play these titles for free, but Adknowledge is figuring out how game publishers can wind up making money from 100 percent of the players.
Adknowledge’s Burlingame, Calif.-based Super Rewards subsidiary is launching a three-part system for making money from virtual currency in games. That could help boost the engagement of players in social games and help raise the revenue generated from each user, said Adknowledge chief executive Scott Lynn. Adknowledge can offer this money-making system as a one-stop shop for publishers and game advertisers.
The three elements include an in-game overlay, offer banners, and a new offer wall for online game publishers. Adknowledge claims the new platform improves the experience for users and increases the number of paying users in a game. Adknowledge is one of a number of companies that give users the option of accepting special offers in lieu of payment for an online game. You can accept an offer such as signing up for a Netflix subscription in return for virtual currency in a game.
But results show that roughly 75 percent of players do not use offers. Super Rewards can target those missing the offers with an in-game overlay, which brings a single, high-value offer to users within a game. The overlay shows up at strategic moments in a game, such as after the initial load. The offers can include promotional language such as “Get More Coins.”
The offer banner uses the space around the main game landscape, presenting a mini version of an offer wall during game play. Users can pay for virtual items at the moment with direct payment methods.
Publishers using the three-part system include The Broth, whose Facebook game Barn Buddy saw its revenue increase 25 percent after using the new system for just five days, said Broth chief executive Markus Weichselbaum. Other publishers have seen a 45 percent increase in the number of new paying users. Adknowledge said developers have seen a 40-percent increase in the number of first-time payers. Super Rewards’ rivals include TrialPay and Offerpal.
Adknowledge has more than 300 employees and $300 million in revenue, making it the largest privately owned internet advertising network. It was founded in 2004 and has grown through acquisitions. The company has raised $48 million in funding from Technology Crossover Ventures.
Next Story: Game media firm IGN Entertainment to give free office space to indie game startups Previous Story: DEMO: VentureBeat’s Matt Marshall touts tech and farming trends (video)
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Read our news of Enslaved DLC detailed. ... Enslaved developer diary #3 Monday. Enslaved - first 15 minutes 15 September, 2010. Latest News. Move demos flood PS Store . Enslaved UK pre-order deals detailed ...
Facebook Making Changes to <b>News</b> Feed, Requests, Bookmarks to <b>...</b>
After the changes take effect, people who do not play games will no longer see news feed stories from friends who do play games — same goes for any other third-party app. Because news feed stories were a main way that people found games ...
Premier League football <b>news</b> from the Barclays Premier League <b>...</b>
Check out the latest Premier League football news from the Barclays Premier League.
Both Matthew Yglesias and Alex Tabbarok seem to think we disagree about the role of technology and inequality. We don't.
As Tom Noah's series on inequality suggests, there are lots of questions when it comes to inequality. But what's confusing people here is one particular question: skills-biased technological change. That's where technology changes (we now have computers) and those who know how to use the new technology pull away from those who don't. In this case, the scenario would be that the computer-literate start making a lot of money, while those who aren't comfortable with laptops and Firefox lose out.
That explanation is intuitively appealing, but it doesn't fit the facts. For one thing, Europe had the same technological revolution, but without the attendant increase in inequality. For another, the startling changes in inequality was between those at the 99th percentile and those in the 90th percentile. It was the tippy-top pulling away from the top, or what I like to call "the conehead economy." If you imagine the economy as the person, it's grown eight inches, and most of that growth has been in its forehead.
Matt and Alex both double back on this and note that technology does play a major role here, and they're right: The Internet, television and other forms of mass media and communication make it much easier for one person or firm to serve a national or international audience. To use an easy example, Kobe Bryant can make more money because the Chinese watch his basketball games and pay him to endorse their products (that's not a random example, incidentally).
But saying that the rise in inequality is partly the result of technological change is not the same as saying it's the result of skills-biased technological change. It's not that satellite television has created a need for more basketball players and that need isn't being filled. If that were the case, the answer would be easy: Train more basketball players. It's that satellite television has made it much, much more lucrative to be one of the world's top basketball players. It's not about skills, but about the opportunity to make money. Training more basketball players won't really help reduce inequality or spread opportunity in that world. Higher tax brackets for the super-rich, however, might.
Graph credit: Slate.
Social games are the rage these days, but making money from them isn’t easy. Gamers play these titles for free, but Adknowledge is figuring out how game publishers can wind up making money from 100 percent of the players.
Adknowledge’s Burlingame, Calif.-based Super Rewards subsidiary is launching a three-part system for making money from virtual currency in games. That could help boost the engagement of players in social games and help raise the revenue generated from each user, said Adknowledge chief executive Scott Lynn. Adknowledge can offer this money-making system as a one-stop shop for publishers and game advertisers.
The three elements include an in-game overlay, offer banners, and a new offer wall for online game publishers. Adknowledge claims the new platform improves the experience for users and increases the number of paying users in a game. Adknowledge is one of a number of companies that give users the option of accepting special offers in lieu of payment for an online game. You can accept an offer such as signing up for a Netflix subscription in return for virtual currency in a game.
But results show that roughly 75 percent of players do not use offers. Super Rewards can target those missing the offers with an in-game overlay, which brings a single, high-value offer to users within a game. The overlay shows up at strategic moments in a game, such as after the initial load. The offers can include promotional language such as “Get More Coins.”
The offer banner uses the space around the main game landscape, presenting a mini version of an offer wall during game play. Users can pay for virtual items at the moment with direct payment methods.
Publishers using the three-part system include The Broth, whose Facebook game Barn Buddy saw its revenue increase 25 percent after using the new system for just five days, said Broth chief executive Markus Weichselbaum. Other publishers have seen a 45 percent increase in the number of new paying users. Adknowledge said developers have seen a 40-percent increase in the number of first-time payers. Super Rewards’ rivals include TrialPay and Offerpal.
Adknowledge has more than 300 employees and $300 million in revenue, making it the largest privately owned internet advertising network. It was founded in 2004 and has grown through acquisitions. The company has raised $48 million in funding from Technology Crossover Ventures.
Next Story: Game media firm IGN Entertainment to give free office space to indie game startups Previous Story: DEMO: VentureBeat’s Matt Marshall touts tech and farming trends (video)
robert shumake
Enslaved DLC detailed <b>News</b> - Page 1 | Eurogamer.net
Read our news of Enslaved DLC detailed. ... Enslaved developer diary #3 Monday. Enslaved - first 15 minutes 15 September, 2010. Latest News. Move demos flood PS Store . Enslaved UK pre-order deals detailed ...
Facebook Making Changes to <b>News</b> Feed, Requests, Bookmarks to <b>...</b>
After the changes take effect, people who do not play games will no longer see news feed stories from friends who do play games — same goes for any other third-party app. Because news feed stories were a main way that people found games ...
Premier League football <b>news</b> from the Barclays Premier League <b>...</b>
Check out the latest Premier League football news from the Barclays Premier League.
robert shumake
Enslaved DLC detailed <b>News</b> - Page 1 | Eurogamer.net
Read our news of Enslaved DLC detailed. ... Enslaved developer diary #3 Monday. Enslaved - first 15 minutes 15 September, 2010. Latest News. Move demos flood PS Store . Enslaved UK pre-order deals detailed ...
Facebook Making Changes to <b>News</b> Feed, Requests, Bookmarks to <b>...</b>
After the changes take effect, people who do not play games will no longer see news feed stories from friends who do play games — same goes for any other third-party app. Because news feed stories were a main way that people found games ...
Premier League football <b>news</b> from the Barclays Premier League <b>...</b>
Check out the latest Premier League football news from the Barclays Premier League.
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