Anthony J. Pennings, PhD

WRITINGS ON AI POLICY, DIGITAL ECONOMICS, ENERGY STRATEGIES, AND GLOBAL E-COMMERCE

Characteristics of Economic Goods and their Social Implications

Market theory is based a standard model where products are brought to market and are bought and consumed by an individual buyer, whether an individual or a more corporate environment. But some products are misbehaving economic goods. A variety of goods do not fit this economic model and as a result present a number of problems for economic theory, technological innovation, and public policy.

Assessing Digital Payment Systems

“Money is a matter of functions four, a medium, a measure, a standard, a store.” – Lyrical couplet used to memorize the roles of money. “Money is the universal translator for things,” – Manu Saadia, in Trekonomics: The Economics of Star Trek. In digitally-mediated environments, new forms of currency and payment systems continue to gain […]

Digital Spreadsheets – The Time-Space Power of Accounting, Part 1

The digital spreadsheet was designed as an electronic document in which data was arranged in the rows and columns of a matrix and could be manipulated and used in calculations. It combined listing, tabling, and other formulaic calculations to create a new imaginative technology that transformed modern finance and the management of organizations. While the spreadsheet handles various types of information, accounting information is some of the most effective and its power is accelerated by an organization’s information technology.

Origins of Currency Futures and other Digital Derivatives

Thus, it was fitting that Chicago emerged as the Risk Management Capital of the World—particularly since the 1972 introduction of financial futures at the International Monetary Market, the IMM, of the CME. – Leo Melamed to the Council of Foreign Relations, June 2004 International currency exchange rates began to float in the post-Bretton Woods environment […]

Those Media Products are Misbehaving Economic Goods

Bad, bad media. Or so economists would have us believe. Media and information products just don’t fit the mold, or should I say, model. Most economic thinking is based on models that make simple assumptions about the types of goods and services that are produced and purchased. Economists like their tight little models and the […]

TPP and the Role of Intellectual Property in the US Export Economy

With the Trans-Pacific Partnership (TPP) trade deal under discussion, it’s useful to look at some of the changes in the world economy, and specifically the US export economy and the increasing role of intellectual property (IP). As it stands, I’m not for the trade deal, but I feel it’s important to parse through the details […]

Markets: Pros and Cons

The term “market” refers to an arrangement or mechanism that connects sellers and buyers to negotiate and facilitate transactions. Historically evoking imagery of town squares and farmer’s markets, markets operate on voluntary exchange, competition, and effective demand, relying on mutually accepted currency for smooth functioning.

The FCC Helps Business Go “Online”

The use of computers was starting to become an important tool for businesses by the mid-1960s and with the introduction of timesharing, a communications component was adding value and enhancing productivity. Factories began using data processing to control chemical flows and machine tools and warehouses used them to monitor inventories. Bank branch offices started to […]

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  • About Me

    Professor at State University of New York (SUNY) Korea since 2016. Moved to Austin, Texas in August 2012 to join the Digital Media Management program at St. Edwards University. Spent the previous decade on the faculty at New York University teaching and researching information systems, digital economics, and strategic communications.

    You can reach me at:

    apennings70@gmail.com
    anthony.pennings@sunykorea.ac.kr

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    The opinions expressed here do not necessarily reflect the views of my employers, past or present.
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