Boy this is a piece of crap. I've got a review of it forthcoming in Wired, of all places. Here's my first draft of it; I revised it some on the editor's urging, but it looks like I didn't keep a copy of that version. Doug
>From the snippet that was posted, Rifkin raises
something that is legitimate but not new, then
commits some basic errors in describing it.
Surprise surprise.
Economists have been observing market segmentation in the service sector for some time now. The top tier for those with more money conforms to Rifkin's description in one sense. Those with more money are provided with more personalized service, the better to milk you over the long run. But this is the opposite of commodification.
Those with less money get more standardized, ATM-type service and more point-of-sale fees This is more like commodification, in the sense I understand the term.
The banking industry is an example. Health care is another. Segmentation is profitable because it facilitates price discrimination. Technology facilitates segmentation, while regulation could restrict it.
mbs