The broadest ripples

Using generated data as a measurable source of generated labour = earned income = value:

Shifts the formula of “capital” + “labour” + “wages” from the classical view of economics of work, investing, and trade (Adam Smith vs. Marx/Engels/Lenin vs. Nordhaus/Romer) . . .

To the one we face in the digitally-networked post-AI global society, where the forecast includes a 30% cut in jobs : creating permanently unemployed citizens : with all associated stigma and risk of loss of self-worth produced by the sweeping social change that this entails:

The concurrent consideration could be to change the Nature of Work (how we “earn”),  where “using IoT to gather volunteerable data” shifts the value of Personal Capital, from:

(Mode A) Physical Labour (“capital”) = traded for earned Wages; and

(Mode B) Service Labour (“capital”) = traded for earned Fees; many professionals (lawyers, doctors, clergy, home care-givers) use Mode B. 

to include:

(Mode C) Data-Creating Labour (“capital”) = trading for earned Value, and

(Mode D) Data-Creating Labour (“capital”) = trading for earned Net Tax Credit Compensation Value.

This fundamental data value re-think, coupled with changes to tax law, creates the possibility that growing segments of society will adopt “Mode C” and “Mode D”.