Most technologies have considerable power to displace and to obsolesce other ones. Money, for example, speeds and enhances transactions but obsolesces barter and such complicated forms of exchange. As it accelerates the production of wealth, money retrieves the characteristics of primitive “potlatch,” or conspicuous consumption. And finally, money, when pushed to its peak performance, flips into credit.
“Predicting 1983 and the Fourth World,” in Man and the Future of Organizations, Franklin Foundation Lecture Series, Volume 5, 1975, p 19
Year: 1983
Chapter:
Laws of Media
Compiled by William Kuhns
© 2026, The Estate of Marshall McLuhan
© 2026, The Estate of Marshall McLuhan