The Rise of the Computational Class: Data-Driven Power in the 21st Century

In a 2012 analysis, the emergence of a new social class, termed the 'Computational Class,' is examined, drawing parallels to Richard Florida's 2002 'Creative Class.' The article argues that while the Creative Class was defined by human creativity and innovation, the Computational Class is characterized by the use of data, algorithms, and computational power to drive economic and cultural dominance. The piece suggests that Mitt Romney, if elected president, would be the first representative of this class, given his data-driven approach. The Computational Class is exemplified by tech moguls like Jeff Bezos, Larry Page, Sergey Brin, and Mark Zuckerberg, who have built empires on data monetization. The article highlights the dramatic drop in technology costs, the explosion of Big Data (2.5 zettabytes generated by 2012, projected to reach 35 zettabytes by 2020), and the rise of high-frequency trading, which now accounts for 85% of US stock trading volume. It also notes the geographic centers of this class, such as Silicon Valley, St. Louis, and Toronto, and the booming demand for data scientists, with median salaries of $100,660. The article concludes that the Computational Class is reshaping the economy and society, with data becoming 'the new oil.'