Competition in the Digital Age
Today internet infrastructure encompasses root servers, broadband lines, routers, content delivery net-works, cloud storage and cellular towers. Broadly construed, these physical assets perform two related and essential services for the modern digital economy. Infrastructure acts as an intermediate input for the production of many services by firms and it acts as an intermediate input into …
Economists like to say that there are no free lunches. How does that attitude apply to free software and services? It is no secret that many prominent platforms give away services, and so do many widely used open-source projects. The answer should help us understand our world. While it costs next to nothing to replicate …
Continue reading "Free Software without a Free Lunch or Free Beer"
This year's Nobel Prize in Economics has been shared by Bill Nordhaus and Paul Romer for "integrating innovation and climate with economic growth." That is one way to thread the needle to link these fine recipients and I applaud the Nobel Committee for finding a way to do it. That said, there is a real …
Continue reading "A Nobel Prize for Breaking Through Hurdles Placed by Economists"
