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Information is the pitch, not the baseball, the dance, not the dancer
Freed of its containers, information is obviously not a thing. In fact, it is something that happens in the field of interaction between minds or objects or other pieces of information.
Gregory Bateson, expanding on the information theory of Claude Shannon, said, "Information is a difference which makes a difference." The making of that difference is an activity within a relationship. Information is an action which occupies time rather than a state of being which occupies physical space, as is the case with hard goods. It is the pitch, not the baseball, the dance, not the dancer.
Even when it has been encapsulated in some static form like a book or a hard disk, information is still something that happens to you as you mentally decompress it from its storage code. But, whether it's running at gigabits per second or words per minute, the actual decoding is a process that must be performed by and upon a mind, a process that must take place in time.
There was a cartoon in the Bulletin of Atomic Scientists a few years ago that illustrated this point beautifully. In the drawing, a holdup man trains his gun on the sort of bespectacled fellow you'd figure might have a lot of information stored in his head. "Quick," orders the bandit, "give me all your ideas."
Sharks are said to die of suffocation if they stop swimming, and the same is nearly true of information. Information that isn't moving ceases to exist as anything but potential ... at least until it is allowed to move again. For this reason, the practice of information hoarding, common in bureaucracies, is an especially wrong-headed artifact of physically-based value systems.
The way in which information spreads is also very different from the distribution of physical goods. It moves more like something from nature than from a factory. It can concatenate like falling dominos or grow in the usual fractal lattice, like frost spreading on a window, but it cannot be shipped around like widgets, except to the extent that it can be contained in them. It doesn't simply move on; it leaves a trail everywhere it's been.
The central economic distinction between information and physical property is that information can be transferred without leaving the possession of the original owner. If I sell you my horse, I can't ride him after that. If I sell you what I know, we both know it.
Stewart Brand is generally credited with this elegant statement of the obvious, which recognizes both the natural desire of secrets to be told and the fact that they might be capable of possessing something like a "desire" in the first place.
English biologist and philosopher Richard Dawkins proposed the idea of "memes," self-replicating patterns of information that propagate themselves across the ecologies of mind, a pattern of reproduction much like that of life forms.
I believe that memes are life forms in every respect but their freedom from the carbon atom. They self-reproduce, they interact with their surroundings and adapt to them, they mutate, they persist. They evolve to fill the empty niches of their local environments, which are, in this case the surrounding belief systems and cultures of their hosts, namely, us.
Indeed, sociobiologists like Dawkins make a plausible case that carbon-based life forms are information as well, that, as the chicken is an egg's way of making another egg, the entire biological spectacle is just the DNA molecule's means of copying out more information strings exactly like itself.
Have you ever worked in an organization whose marketing was hampered by the information-hoarding upper management? Change the names to protect the guilty, and tell the story.
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