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In the early 20th century, the old economy (machine age) myth revolved around cars, ships, planes and other mechanized forms of transportation.
"We want to be the underground hands and feet that can run the sharing economy machine," he added.
While fewer human beings will be required to produce goods and services in the market economy, machine surrogates will play a smaller role in the nonprofit social economy for the evident reason that deep social engagement and the amassing of social capital is an inherently human enterprise.
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Industries important to the local economy include machine tools, furnaces, automobiles, and canned and frozen vegetables.
THE Internet boom may be over, but the New Economy hype machine lives on, as can be seen in a recent memorandum from Andrew Filipowski, the chairman of Divine Inc., to his employees.
In an economy where machines do most of the work, the nature of the knowledge locked inside the machines must, he writes, be "social".
Fertilized by the brisk economy, bank machines have been cropping up in some Manhattan neighborhoods over the past few years.
But in the weeks after its earnings restatement in November 2001, this new-economy profit machine was suddenly revealed to be an old-fashioned money pit.
There is a loss to the economy because machines crash or a user cannot open a document or figure out a pull-down menu.
The one aspect of "The Fear Index" that is tired and familiar is its depiction of the rise of the machine-to-machine economy as murderous and menacing.
I am a fan of the machine-to-machine economy and of all the ways it makes my human life cheaper and easier.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com