10.6.07

The New Economy

3-features dominate the 'new economy': the first is the importance of information as an economic good; the second is the idea of the increasing returns to scale *.


Related to this is the importance of network effects**.
  • By doubling inputs to production, output will also be doubled.

  • Refers to the fact that the value of the network increases with size.

No comments:

Post a Comment