Calling Wikipedia a 'positive externality' reveals a theory not working hard enough: the externality of Wikipedia is in fact the business/economic value it creates, while the social effects are internal to the transaction—so internalizing non-financial motivations would better explain what is going on, and Wikipedia will stop being viewed as an externality.

factualpending

Speaker

Clay Shirky

Evidence Quote

updating the theories might not be a bad idea to internalize non-financial motivations as a way of explaining the world

Source

Clay Shirky on Coase, Collaboration and Here Comes Everybody 10/20/2008EconTalk
Created: 6/15/2026, 9:28:59 AM

My Notes

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