Are We Entering a Time of Information Socialism?

There has been so much talk about socialism in the past year. The concept of socialism is typically related to economics. However, the most relevant type of socialism seems to be in the area of information. Except for a new piece in Wired Magazine, I haven't seem much about it.

Think about what has happened to information since the advent of social media. Information that was controlled by large companies seems to be breaking down. Social media, including blogs, microblogs and the like are putting information flow in the hands of the people, and with that intelligence is moving from the center to the fringes. We always thought of a networked society as being like an atom, with a core. However, we are evolving to more and more networks in which there is no center core. Networks simply evolve and beget new networks. Information and intelligence is shared within the network. If companies want to introduce ideas or brands, they are increasingly attempting to find ways to participate in the network. Companies are not the owners of the networks, nor do they control information flow. They are equals with others in the network.

I have noted that Facebook and Twitter are examples of the "me-ness" of society. We have always thought that technology was creating these social networks, but I am starting to think that technology is following the social and market dynamics. The founders of the new social media are part of the generation that is self-involved and more interested in what they are others like them have to say than they are in what some so-called authority has to tell them.

Like economic socialism, then, social media are creating a distribution of information (wealth). While it may not be the government taking control, as in economic socialism, there is a loss of control by corporations, owners and the wealthy. Wealth, which was centered amongst a few families a few generations ago, has been distributed as well--not withstanding the current economic collapse. The new wealthy, and there are many of them, are creators of information sources (Facebook, MySpace, Twitter, Flikr, Digg, etc.).

It is a curious phenomenon. Perhaps we need to rethink the concept of socialism? Does anyone have any thoughts on this--it's really interesting.