Too bad the term “socialism” was appropriated by Karl Marx, because it would be an apt description of today’s emerging social economy. The social media revolution is transforming the way we create wealth, work, learn, play, raise our children, and probably even the way we think. A billion people use social media daily. We have social networking, social business, social government, social entertainment, and social everything. Today’s hottest concepts are social: collective intelligence, mass collaboration, crowd sourcing, and collaborative innovation.