Articles Archive for 23 July 2004
Economics, Information and Communications Technology, Transaction Costs »
It is worth pondering this question: What exactly is the role of ICT in any economy?
This week, I would like to address myself to that question in detail. The answer can be succinctly stated as: It reduces transaction costs. It will take a pretty long time to explore that answer. But first a few personal experiences to set the stage would be appropriate.
Today I called up a local store which sells “white goods” (major appliances such as washing machines, etc.) …
