How is information a ‘public good’ in your profession?
Public Good can be defined as “goods or services that can be consumed by several individuals at the same time without losing the value of consumption. (Berkeley University). One’s the product is been produced, it may be consumed by all the clients with no additional cost. However there are problems with the application of public goods when it comes to government regulations and justifications. First, many public goods are produced in the private sector, so government production is not necessary. However not all products are freely produced, government prohibition is essential.
Common examples regarding security with the new media (internet) include: national defence and law enforcement. For example, copy right; the balance between author rights and public benefit. Copyright and Intellectual law has become, in many ways the crucible for many of the issues and challenges presented by the new media for the problems with law and policy. The internet results out a convergent space between computing, telecommunications, and the media. The status of a public good may change over time. In fact Technological progress is having a significant impact on traditional public goods. The future is often seen as a basic with the internet becoming very big economic industries for the whole world. The internet has exploited in scale, participants have increase, and it has become a very big economic engine. Followed by knowledge economy term which is introduces as developing issues like: the balance between public good and private benefit criteria for use of, and access to, information. Individual rights of ownership and social use of common good, as last the nature of knowledge as both a commodity for commercial exploitation and as a public good for common use.
Concerning with my profession, marketers have to start adapting to the new technology and the new media in order to develop new ways to advertise different products and services. The question is into what extent all the information is free, being that everyone is able to consume? As internet has developed as a global, is essential to expand and develop entire new methods as benefit this entirely new set of circumstances (Barlow 1966b: 10). As we know , now everyone can publish any type of information and uploaded in the internet , commercial interest saw their domain name to grow their branding and marketing strategies, Ensuring , that their “ brand” , as personified in their domain name, was protected in cyberspace. However many problems concerning “ Cybersquatting”: people would buy up potentially popular domain names, and maybe they could use it as culture jamming ( Lasn 2000) so then they could profitably on- sell. This can affect marketers a lot, for the reason that people can pretend they work for this “known” companies and create false information, and consumer will believe and then the reputation of the company will be in bad faith. . For example both the Brisbane City Council and the government of South Africa were surprised to find that the domain names Brisbane.com and southafrica.com had already been bought by online speculators, who then wanted to sell the domain name at an very expensive price ( Froomkin 2003; Rimmer 2003a). The ICANN, which is a private, non- profit agency which intend to represent both the global “internet community” and the global “internet business community”, that includes both domain name registration and those seeking to register online domain in order to pursue electronic commerce. This represents the big issue when it comes to “new media.” For advertisers and Marketers there has to be a huge involving on making people belief that the service or product that they are selling is real. There are going to be so many similar names, that people won’t know who and what to belief. Both Advantages and Disadvantages of public good exist. New Media has developed huge advantages for everybody, for example information these days is very easy to obtain. But in the other side if we look at the music and movies industry, the legal business is not respected any more, everything is “cheaper” or “free” is a disadvantages. Small franchises more than big one is going to be affected since the lack of trust is huge. Who is going to belief in advertisers or marketers these days, given that everyone has the right to upload any type of information in the web for the public good? . As a solution the war that is been held with tensions that exist between information and creative content as both public and private property, they have to be considerers to avoid being overly drawn into the new media publicity.
Reference:
- Lecture notes on public goods from University of California, Berkeley
- Randall G. Holcombe is Devoe Moore Professor of Economics at Florida State University and wishes to gratefully acknowledge comments from James Cobbe, Anthony Carilli, and Russell Sobel. Review ofAustrian Economics 10, no. 1 (1997): 1-22
- Flew, T. (2008). New Media: An Introduction (3rd Ed.). Melbourne: Oxford University Press.
