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Innovation and the Internet, 2002-12-12

I argue that the Internet helps to foster decentralized innovation.

There is a striking generation gap between media empires that were built before the Internet and those that grew up as Web businesses. Companies that were formed on the Internet treat Edge Power as a feature. Traditional media companies treat Edge Power as a bug.

Discussion Question. Do you think that music CD's will continue to be sold in large volume in ten years? (This was the topic of a bet at longbets.org)

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Great Questions of Economics: © 2002-2003, Arnold Kling. Originally published at http://arnoldkling.com/gqe/.
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