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Ravi Pandya software | nanotechnology | economics |
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Thu 12 Sep 2002
Who Benefits Most from the High-Tech Revolution?. David Wessel writes about one of the secrets of the new economy: the principal productivity gains and cost reductions are found not in IT-making but IT-using industries... This is one of those things that's obvious once you see it - you wouldn't expect the producers to capture a significant fraction of the consumer surplus, especially in a highly competitive industry. But the end-users are much less visible, so the availability heuristic leads you to think they are less significant. 09:22 # |
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