Tyler Cowen explains in the video, below.
There is much to be debated in Cowen's views about the internet and the role of money, but, as I have said before, Cowen's new book, Create Your Own Economy: The Path to Prosperity in a Disordered World is pathbreaking in its analysis of individual minds and how they order information. There are many details I don't agree with in Cowen's analysis (and comments on this video), but his Big Picture view of the different ordering methods of different minds and its relation to the internet is a significant new direction in attempting to understand the human mind.
As a bonus, there is a nice warning from Cowen on the penchant by President Obama to lock out those who refuse to go along with plans he has devised.
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