On Thursday, September 3, 2009 at 11:13:20 (-0700) Eugene Coyle writes: >... >You can use Larry Summers and Brad DeLong on your topic. They >presented a paper at Jackson Hole a few years ago which said this, >among other things: > >A world in which the information-technology sector is salient is one >in which more of the goods that are produced will have the character >of pharmaceuticals or books or records, in that they involve very >large fixed costs and much smaller marginal costs. > >An industry with high fixed costs and near-zero variable costs has >another important characteristic: it tends to monopoly.
Doesn't it also tend to government subsidy and protection? Bill _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
