Comment by WalterBright
2 years ago
I don't think they've changed the way free markets work. If anything, it makes them more productive because of the efficiency of having better information.
2 years ago
I don't think they've changed the way free markets work. If anything, it makes them more productive because of the efficiency of having better information.
Summarizing the past twenty-thirty years as "slightly more productive markets due to efficiency thanks to better information" might be oversimplifying things a bit, don't you think?
I can be much more productive these days because I have the information resources on the internet. In the early days, for example, I'd mail order books and wait weeks for them to arrive, and hope they had what I needed in them.
I also collaborate with people all over the world. That simply wasn't possible in the 1980s. I'd mail floppy disks internationally, and would use the fax machine for communication (at a dollar a page!).