“Knowledge is now fast becoming the sole factor of production, sidelining both capital and labor… Formal knowledge is seen as both the key personal and the key economic resource. In fact, knowledge is the only meaningful resource today.” - Peter F. Drucker, Post-Capitalist Society (1993)
In the new information economy that is forming, mechanized knowledge is stored, processed, and widely distributed. This is governed by its own economics and a new set of principles.
It isn't clear that economists have yet adapted their models to this rapidly scaling environment, or that retooling the established models is even enough.
We might need a new paradigm altogether.