There is a lot of discussion in microeconomics these days about different aspects of how value is created and what value is (i.e. value co-creation in service-dominant logic). There is also growing evidence that the relative importance of money in value decisions is declining as other elements like sustainability, trust, transparency but also social capital are more and more influencing these decisions (with a clear relation to behavioral economics).
It also looks like data together with (social) connectivity is getting more important than pure money.
Did you for example notice that the waiting lines at consumer banks are shrinking whereas those at mobile phone shops are growing ? (which looks like an ethnographic evidence for this thesis)
Or that share values of financial institutions are steadily declining these days which is not the case for share values of the big tech companies ? (which looks like a financial evidence of this thesis). In a way, the nervous center of the US economy is shifting from Wall Street to Silicon Valley.
These are all signs that social capital (with knowledge capital embedded) is adding up to the traditional economic resources of financial capital, human capital and natural resources.
Community building and social hyper-connectedness is revolutionizing marketing, sales, (open) innovation but also internal communication (social Intranets) along with people’s private lives and collective political action.
We need to even better understand how social capital, enabled through technology, data, connectivity but also coding intelligence is changing microeconomics and politics and how this whole thing is shaping the emerging management & governance 2.0 models.