Technology changes, but the laws of economics don't!

Abstract

Argues managers would be fooled if they thought that the basic rules of economics had changed suddenly — an understanding is needed of how they apply in an information economy. Highlights, in a shaded box, the case of Encyclopaedia Britannica and its problems, plus the effects of being launched free on the Web — on the first day there were ten million hits! Looks at how the information economy has grown and continues to flourish — and any possible future effects.