26 May 09 Auctions, economic justice and a better future

I remember reading a story from Paolo Coelho’s “The Alchemist” that essentially gave the message – don’t rip people off, because that is somewhat like stealing. I don’t have the book at hand because I gave all of my copies away, but I remember the moral to the story. Essentially, it was a story about doing fair deals, and making sure you are creating enough  value from trade for both parties to profit.

For some companies, I think it eludes them that their core objective – create value; and that driver of growth is creating value for their customer. More benefit, lower cost.

There is one sure fire way of making sure that the equilibrium of the cost to the benefit is found, balancing the price and the value to a prospective customer – that is by using auctions. I’ve always believed that this was a way to find economic justice, but until now it hasn’t necessarily always been practical.

However, Google is showing us the way, as is evident in this article from Stephen Levy @ Wired.

As we move to a more efficient future (since that is where the quick wins are) - expect this trend to continue

del.icio.us Tags: googlenomics