Lanham Two Markets 3.30.

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Lanham, Richard A. The Two Markets: Libraries in an Attention Economy 52(2) LRTS 3-11 2007? Need more citation information 3-4 Two free markets: markets of goods (only one person can have a cake); market of ideas (have your cake and share it with a thousand people. 4 The content of the book is not the book “Digital expression is the natural medium for the marketplace of ideas: there is no physical substrate to mislead you.” “If you ask what, in the free marketplace of ideas, corresponds to the price system in the free marketplace of goods, the nearest answer I have up with is persuasion.” And hence rhetoric. This is a key idea; an essential quote. Make sure that I understand and think about this quote and its implications more deeply. Traditional marketplace: dig it; grow it; build it—agriculture and industrial revolution. 5 “We must remember that information never comes without a package, as pure truth…” There is no pure message “Packaging tells us what to expect of the contents, what kind of attention to pay to it, what kind of message the message is.” Packaging is usually called style 6 “Design tells us how to look at the world of physical stuff, what kind of attention to bestow on it.” Two kinds of self: social self and central self (middle of the head) “In a purely oral world, a world without writing, attention is everything. Conversation is everything. Your personal brand is the only self you’ve got.” Once the conversation is over or you stop speaking or getting attention, there is no documentation of you or your existence. With the movement into digital media, where things are in flux and it is more like the oral cultures, the emphasis is on conversation and interaction not on fixed representation—away from books and into conversations. 7 “The value in art, what we used to call the “beauty,” lay not in the object but in the attention brought to it.” “The Internet is a pure economics of attention. The only economic reality there, as the cliché now has it, is eyeballs.”

Lanham Two Markets 3.30.09
Internet as free market ideas; the more you share, the better things get. 8 Traditional economics about how you distribute good and share modernity; not possible in an attention economy—someone or something is going to receive more attention than others—there is comparison involved “Think of all the changes in social equity implied by this continual oscillation between the centripetal and the centrifugal gaze, between staring at the celebrities at the center and saying, from where we stand on the periphery, “Wait a minute! I want to say something here!” ”That residually oral mindset is the mindset we find in the attention of economy of the web.” Oral mindset is also very competitive Competition is for attention 10 Value rests in the cultural conversation surrounding objects or cultural phenomenon “In an attention economy, value resides in the cultural conversation.” If this is the case, then if academia wants to have power or value, then we need to foster, generate, and redirect the conversation about paideia and/or culture. By fostering and directing the conversation, we generate and foster value. Based on the Marrs’ article, we also need to figure out how we can make this system—paideiai—appealing to people who currently own and believe fully or largely in American current values.

“The essential knowledge now is not a body of facts about either domain but a skill, a poise of mind, that allows you to understand both kinds of markets, both kinds of economies which create these markets, and if not to hold them in your mind simultaneously, at least to toggle between them adroitly if and when you need to.”
11 The two markets are competing with one another, and we are oscillating between them. That is a head job.