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Second-Hand Intellectuals
August 9, 2006 |
Title: HAYEK, ‘THE INTELLECTUALS AND SOCIALISM’, AND WEIGHTED
SCALE-FREE NETWORKS.
Authors: Ormerod, Paul
Source: Economic Affairs; Mar2006, Vol. 26 Issue 1, p41-47, 7p
How do ideas spread across, or disappear in, a social network of individuals?
Paul Ormerod suggests that one important way that individuals form their opinions on individual topics “is by noting the opinion of others who the individual considers to be significant in the particular context”. Networks in which most people are potentially influenced by a small number of people have the properties of a scale free network.
Hayek examined this issue in the late 1940’s as he observed the mechanism by which capitalism gained prominence over socialism. He identified intellectuals as “professional second-hand dealers in ideas” such as commentators in the media and notes their power in influencing public opinion.
“An individual does not simply count heads in thinking about whether or not to change her mind. She takes into account the relative importance of those who influence her, so that a commentator is in general much more important than a relative.”
The influence of these second-hand intellectuals can be profound and extends well beyond the political sphere. While Hayek was most certainly referring to newspaper columnists and radio and television commentators, the introduction of blogs and online recommendation systems has shifted the balance of power. Although the media is certainly changing, the influence of these secondary sources is still being relied upon.
In The Long Tail Chris Anderson notes our metamorphosis from an information economy into a recommendation economy. He uses the term post-filters to describe blogs, playlists, reviews, and customer recommendations. According to Anderson, post-filters channel and amplify consumer behavior.
“the blogosphere is the greatest vector for new voices ever created. The convention of linking to ideas and information of merit, wherever they come from, be it professional or amateur, is a powerful force of diversity.”
(Anderson p. 190)
As the sphere of influence shifts we need to reexamine, not only the sources of influence, but also how we measure it. Reliance on these second-hand intellectuals will continue to grow. The legitimacy of, what we now consider, traditional sources will wane. New authorities may surprise us more for who they are than what they say.
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