a Current Industrial Age Economic Business Models are based on the 1776 Adam SMITH 4 volumes "An Inquiry into the Nature and Causes of the Wealth of Nation" or as it is better known "The Wealth of Nations". "The Adam Smith Institute is proud to present the full text of Adam Smith's great book, The Wealth of Nations, online. This remarkable book was published in 1776, at a time when the power of free trade and competition as stimulants to innovation and progress was scarcely understood. Governments granted monopolies and gave subsidies to protect their own merchants, farmers and manufacturers against 'unfair' competition. The guilds operated stern local cartels: artisans of one town were prevented from travelling to another to find work. Local and national laws forbade the use of new, labour-saving machinery. And, not surprisingly to us today, poverty was accepted as the common, natural, and inevitable lot of most people. Adam Smith railed against this restrictive, regulated, 'mercantilist' system, and showed convincingly how the principles of free trade, competition, and choice would spur economic development, reduce poverty, and precipitate the social and moral improvement of humankind. To illustrate his concepts, he scoured the world for examples that remain just as vivid today: from the diamond mines of Golconda to the price of Chinese silver in Peru; from the fisheries of Holland to the plight of Irish prostitutes in London. And so persuasive were his arguments that they not only provided the world with a new understanding of the wealth-creating process; they laid the intellectual foundation for the great era of free trade and economic expansion that dominated the Nineteenth Century. The Wealth of Nations changed our understanding of the economic world just as Newton's Principia changed our understanding of the physical world and Darwin's Origin of Species. And now, it is here online, for you to read, and enjoy. However at a time when Free Trade Models are being re-assessed does a 225-year old Business Model still apply in the Information Age ?
B New Business Models for the Information Age
a The Wealth of Nations changed Economic Theory at the time but can it provide a suitable Social and Business Model in the Information Age where technology has changed the rules for Homework (Education), Housework (Home Ownership), Volunteer Work (Environment) and Intellectual Property (Ideas) ? b Time and Process Automation are becoming the Universal limitations and perhaps the Business Models have to be devised so that an eCredits System is used to ensure that the Process Automation model is sustained and not forgotten in the long term as manual process skills decline. c The new Business Models have to recognise and more important record a Community Value for diligent Homework, repetitive Housework, stressful Volunteer Work and creative Intellectual Property d RUBAC Joint Ventures are one type of new Business Model that can be considered for Intellectual Property Applications on the Internet
C RUBAC Joint-Venture Model
a The RUBAC Joint Venture Model is based on a long-term revenue sharing model b This Model povides a return for all members of the Joint Venture involved with: 1 research for an Application 2 develop a propotoype 3 implement a beta test site 4 support implementations 5 market promotion of Joint Venture c The Model provides Royalties based on variable factors including: 1 Marketing Strategies 2 Product/service promotion 3 Web page hits 4 Increased sales for client 5 Reduced costs 6 Uploads/downloads for automated file back-ups d The Model is designed to cater for the on-going process of change by using Electronic Information Interchange [EII] as the core technology rather than "paper 21st Century Techniques over 19th Century Economic Procedures" ref John RAVEN EDI Facilitation Advisor to the International Association of Ports and Harbours [IAPH]