PigeonPropaganda

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FOR THE BIRDS, AND MOSTLY THE CHILDREN TOO

Word.

Cloud Computing = machines going virtual. very fast. via the Economist.

IF YOU are tired of hearing the word “cloud” attached to every term in the computing lexicon, you are not alone. Disillusioned tech folks are beginning to succumb to “cloud fatigue”. But the concept of computing as a basic utility delivered over the internet is here to stay.

It took decades for electrical power to become a tradable commodity. Computing seems to be getting there faster. Standards bodies are working on rules that would make it easier to move virtual machines around, and a raft of start-ups are making this their business.

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Filed under: GLOSSARY, TECHNOLOGY

Word.

via wikipedia, for thought: Rent-Seeking

The word “rent” in this sense is not directly equivalent to its usual use meaning a payment on a lease, but rather stems from Adam Smith’s division of incomes into profit, wage, and rent.

If “buying” a favorable regulatory environment is cheaper than building more efficient production, a firm will choose the former option, reaping incomes entirely unrelated to any contribution to total wealth or well-being.

Filed under: Enterprise & Economies, GLOSSARY