At 09:57 AM 10/06/99 -0700, you wrote:
>How about a concrete example ?
>
>Lets take Merryll Lynch or any old-guard financial institution soaked in
>mahogany veneer.
>
>1. The brokers are the knowledge entities
>2. Clients call the brokers for information
>3. Clients decide on trading based on information
>4. Clients delegate brokers to decide on their behalf within certain
>knowledge thresholds
>5. Different levels of *knowledge* is available based on service fees
>[implicit & explicit fees]
>
>Enter, virtual flea-market.
There is another class of knowledge entity at play here, which most
day-traders know, called the computer program. It has the knowledge of
its trading rules and it acts when it gets certain knowledge in real time.
Such programs have enormous influence on the intraday movements of the
markets, as anyone watching the markets during trading hours will tell
you.
The financial services industry is one of the earliest examples of applied
learning that beyond the information economy lies an economy based on
skill at thinking.
Jason Smith
pax@interlog.com
--Jason Smith <pax@interlog.com>
Learning-org -- Hosted by Rick Karash <rkarash@karash.com> Public Dialog on Learning Organizations -- <http://www.learning-org.com>