A "Spime" may or may not eventually exist in the real world of the near future. A Spime is an object plus it's RFID or wireless ID that tracks the object during it full lifecycle.
What Sterling is trying to do is close the loop on manufacture and design in the modern age. No wait, scratch that: He's really saying that closing the loop via a Spime or something like it will be inevitable.
What do I mean by "closing the loop"? In the book Sterling makes the convincing case that the full impact of industrial output and design is not currently accounted for in the cost and design of objects made and sold. Rather, we "export" a lot of the impact into the future in the form of industrial waste and so on.
Spimes will allow intelligence and statistics about the full impact and lifecycle of objects to be fedback into future capitalism and industry. In fact, Sterling argues that, for future designers and manufacturers, the data representation of an object is potentially far more valuable than the sale price or the object itself. And as crazy as that sounds, in some industries (most notably credit cards) that's already true.
And the strength of this book lays not in the eventual reality of Spimes or the industrial environment Sterling envisions, but in the fact that Sterling attempts to sketch out something akin to a solution to current social & envionmental problems that actually makes sense in the current economic climate of the world. It's a good try, at least.
In terms of the layout, typography and design of the book, it is a hell of a lot of fun. There's plenty of pithy, epigrammatic phrases sprnkled thoughout the book, but over against a backdrop that is large convincing. It's a cute little book that you will definitely spend some time thinking about.