Arnold Kling  

Anti-anti-economics

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Economic vs. Non-economic Savi... Comment of the Week, 2003-03-1...

In Suits and Geeks, I discuss some information-age economic issues. As Carl Shapiro and Hal Varian wrote, "Technology changes. Economic laws do not."

My essay concludes,


My goal is to see ignorance reduced on both sides of the Suit-Geek divide. Suits who are ignorant of the Internet ultimately do a disservice to the businesses whose outmoded practices they try to protect with misguided legal weapons. Geeks who are ignorant of markets do less harm, because they tend to limit their activities to applauding one another's manifestos. However, if the anti-market prejudice that they promote becomes more widespread, they ultimately will do a disservice to their vision of the future. That vision will arrive soonest if market forces are allowed to operate.

For Discussion. Does the Internet (a) make some businesses obsolete (b) make the entire market system obsolete in many cases or (c) neither?


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