As The Industrial Age comes to an end, growth, development, consumption, are beginning to place unprecedented demands on our physical resources. And all around the world, we’re video thumbnail of Don Tapscott in The Transparency in the Networked Agebeginning to see scarcities happening in all kinds of areas; important areas like say, water.

There’s an odd dichotomy in the world today. On the one hand, we have growing scarcities, but on the other hand we have over-capacity in all kinds of areas. We have automobiles that are used for say 4 percent of the time. We have vacation properties that are used for 13 percent of the time. We have people’s spare bedrooms that are used for 5% of the time. Now, because of the internet, we can start to use the over capacity that exists to reduce our consumption of physical resources, and to solve this problem of-of scarcity in the world.

So, this is an opportunity to shift the way that we manage resources to a real-time interactive and collaborative model, and if we do that, we can address some of these big resource scarcities that exist on the planet. It’s about capitalism in The 21st Century in a more sophisticated way.

Sharing is key. Let’s take the case of The Pharmaceutical Industry. This year, they’re losing up to a quarter of their revenue, because of something called the patent cliff where many of the big blockbuster drugs are now going generic, and losing their patent protection. You can’t fix this by tinkering. You need to fundamentally change the modus operandi of your company, and of the industry. So, GlaxoSmithKline, is leading the way here, arguing that all clinical-trial data should be placed in a commons where pharmaceutical companies cooperate to do the basic research, and then they compete on-on a higher level, on the packaging of drugs or on the customization of drug on deliver systems, or on the services related to that. If they do this, they can save the industry, and advance human health in ways that we-that were just unthinkable in the past.

It’s like the Roman and Greek agora, open markets for uniquely qualified minds. Companies can harness pools of labor that are in commons, outside of their boundaries.

Increasingly, every company needs a portfolio of intellectual property, kind of like we all have a mutual fund that has a portfolio of stocks in it, Asia, high-tech, whatever. Some intellectual property you own, and protect. Some you place in an exchange and some that you may actually place in a commons, and share with your competitors, and with everyone,

Well, now, we have real-time systems that instantly analyze, and evaluate what’s happening, and enable us to respond infinitely more quickly. We have mobile computing that takes technology and power and information and the capability of collaboration right up to front-line workers, who can be constantly making real-time uh, adjustments.

Supply chains are being transformed. In many ways, they won’t be chains in the future, there’ll be networks. The old model was, it was a serial chain, but now we can have a network whereby things can happen simultaneously. The old model was a static one. The new model is much more dynamic.