De Long on network economy

[Michael Perelman]

More often than not, the original developer does not get that much, despite
the enormous success of some of the recent beneficiaries of IPOs.

Martin Schiller wrote:


> Why does the profit or the value have to accrue to the original investor
> or developer (I mean for practical reasons, not just because they *want*
> it?) Knowledge is only valuable in relation to how widely it's broadcast.
> Widely broadcast, widely used and widely productive.

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu