Economics

Also see Electronic Property, Econ Server by Hall Varian, Laissez Faire Books, and this collection about Japan.



Organizations are like fish with people as their cells. They evolved to thrive in the ocean, the high-viscosity world of the industrial age. These fish must now change into fowl to thrive in the zero-viscosity world of the information age, a new world in which space and time have collapsed to a dot. Most of them won't make it, for evolution doesn't work that way.

Brad Cox, Superdistribution: Objects as Property on the Electronic Frontier.

Articles that have most shaped my thinking.

The Use of Knowledge in Society and Economics and Knowledge by Freidrich Hayek. Professor Hayek was a leading contributer to the "Austrian" tradition in Economics. His works have spanned several social disciplines, including social philosophy, history and political theory. He was awarded the Nobel Prize in Economics in 1974. These works and others such as The Sensory Order and The Road to Serfdom are available from the Laissez-Faire Books

I, Pencil My family tree as told to Leonard E. Read.

Bionomics by Michael Rothschild.

Bourgeois Virtue by Donald N. McCloskey. The growth of the market, I would argue, promotes virtue, not vice. Most intellectuals since 1848 have thought the opposite: that it erodes virtue. "It was a fundamental principle of the Gradgrind philosophy that everything was to be paid for . . . . be abolished, and the virtues springing from it were not to be. Every inch of the existence of mankind, from birth to death, was to be a bargain across a counter."

Information Technology: Weapon Of Authoritarianism Or Tool Of Democracy? by Roger Clark. Strong tendencies exist to apply information technology to support centralist, authoritarian world views. It is argued that alternative architectures can be readily created, which are more attuned to the openness and freedoms which are supposed to be the hallmarks of democratic government. It is questioned whether authoritarianism will be capable of surviving the complexities, dynamism and widely distributed power which are features of the emergent information societies.

Searching for the Leviathan in Usenet By Richard Clark MacKinnonA Thesis Presented to The Faculty of the Department of Political Science San Jose State University In Partial Fulfillment of the Requirements for the Degree Master of Arts By Richard Clark MacKinnon December, 1992

Cyberspace and the American Dream: A Magna Carta for the Knowledge Age This statement represents the cumulative wisdom and innovation of many dozens of people. It is based primarily on the thoughts of four "co-authors": Ms. Esther Dyson; Mr. George Gilder; Dr. George Keyworth; and Dr. Alvin Toffler. This release 1.2 has the final "imprimatur" of no one. In the spirit of the age: It is copyrighted solely for the purpose of preventing someone else from doing so. If you have it, you can use it any way you want. However, major passages are from works copyrighted individually by the authors, used here by permission; these will be duly acknowledged in release 2.0. It is a living document. Release 2.0 will be released in October 1994. We hope you'll use it is to tell us how to make it better.

New York, Capital Of The Information Age by Peter W. Huber It's about to rain. You're standing at the corner of Park Avenue and 55th Street, a human semaphore, your right arm waving uselessly at the sky. There are empty cabs cruising the streets two blocks away -- you know it. If your arm were just 150 yards longer, the connection would be made. This is a failure to telecommunicate.

Economics

Homesteading the Noosphere by Eric S. Raymond April 1998 After observing a contradiction between the `official' ideology defined by open-source licenses and the actual behavior of hackers, we examine the actual customs which regulate the ownership and control of open-source software. We discover that they imply an underlying theory of property rights homologous to the Lockean theory of land tenure. We relate that to an analysis of the hacker culture as a `gift culture' in which participants compete for prestige by giving time, energy, and creativity away. We then examine the implications of this analysis for conflict resolution in the culture, and develop some prescriptive implications.

How "New" Is Today's Economy? by J. Bradford De Long Professor of Economics, University of California at Berkeley, and Research Associate, National Bureau of Economic Research. A. Introduction At the end of the twentieth century legions of the powerful--politicians, intellectuals, journalists, business leaders, and visionaries--made what can only be called pilgrimages to a spot in California between San Francisco Bay and the Pacific Ocean, some forty miles south of San Francisco: Silicon Valley. In the past the powerful had made similar pilgrimages. In the 1830s and 1840s Alexis de Tocqueville (reprinted 1991), Benjamin Disraeli (reprinted 1993), and Friedrich Engels (1844) were among the pilgrims who journeyed to Manchester, England, to see the shape of the future emerging from the factories (and the smog, and the slums) of the rising British cotton textile industry.

Ka-ching!: The Amazon Associates Program by Brad DeLong Every Monday it arrives in my e-mail box, from <associates@amazon.com>: a report of how many people have clicked-through from my website to Amazon using links that I have provided, how many books (and what kind of books) they have bought--and what my "referral fee" is.

The Historical Vs. The Deductive Method In Political Economy by E. v. BÖHM-BAWERK. Translated by HENRIETTA LEONARD. Annals of the American Academy volume 1, (1890-91)

The Function Of Saving by E. BÖHM-BAWERK. Annals of the American Academy, volume 17 (1901)

Kevin Kelly on Paul Romer Read the newspaper or crack open the average business magazine and you wouldn't think economics is undergoing revolutionary change. Instead you get the latest on Fed policy, simplistic analysis of some trade dispute, maybe a diatribe against downsizing with reference to some theory of competitiveness. On Sunday chat shows, folks like Robert Reich and James Fallows pratter about the economy, and say little that's original. Like most of us, I didn't think economists had many new things to say. That was before meeting Paul Romer. It turns out, economics is being transformed by the very forces that are revolutionizing our day-to-day lives. And the theoretical father of this transformation is Paul Romer. Unlike many of his colleagues who see the computer as just another capital good, Romer takes the power of technology seriously. He's thought hard about how biotech and other innovations have (and will) transformed our economy. As a result, he's hit on a theoretical and intellectually rigorous economics for the technological age. Romer's shifting economics away from the dismal, away from a fetish with diminishing returns and scarcity, and infused the profession with optimism and the possibility of progress. Also see What is Endogenous Growth Theory? A short presentation based on Paul Romer's work in the last decade (footnotes to come) by Gladys We and Implications of Innovation-Driven Change!" Paul Romer, noted economist at the University of California (Berkeley) and CIAR Fellow, has made some important contributions to the study of the role of ideas and innovation in economic growth. He notes that economic growth is about change and that: "Ideas are never used up. They last forever and everybody can use them at the same time." The following discussion by Romer presents an interesting perspective concerning economic change."

Resources For Economists On The Internet by Bill Goffe This document is the hypertext version of my guide that lists the many resources on the Internet of interest to academic and practicing economists, and those interested in economics. In selecting these resources, I exercise some editorial judgment and select items that either offer a substantial amount of information, or are specialized to a specific area.

95Nov10 Vienna Institute for Comparative Economic Studies (WIIW) (thanks, Michael Buschek ) WWIW has for more than 20 years been an important source of information on the economies of Central and Eastern Europe. The Institute's special expertise - detailed personal knowledge of the countries of the former eastern bloc - is important to institutions and companies active in these countries. The Institute is a non-profit organization supported by the Republic of Austria, the Austrian National Bank, the City of Vienna and Austrian corporate institutions. WIIW publishes economic analyses and quarterly short-term forcasts concerning economic developments in Central and Eastern Europe. The WIIW database, containing several thousand time series, covers a wide range of economic indicators on this region.

Chaos Theory and Evolutionary Models for Economic Development Public Policy Thesis by Stan ? (last name not provided) Moving toward the goal of enhancing research on subnational policy-adjustment behavior, this chapter introduces three models drawn from complexity and chaos theory--deterministic, equilibrium, and dissipative. The different assumptions of each model are discussed with reference to past research on states' public policy adjustment. The goal is to introduce the possibility of using orientations drawn from complexity and chaos theory to further clarify and explain subnational policy- adjustment behavior in economic development. The overall target of the present inquiry aims at showing that a different analytical approach to public policy analyses can produce results which have eluded past research. Specifically, within the overall framework of chaos theory and complexity, two approaches are relevant: (1) assessments from physics of log-linear "noise" and (2) models from biology concerning evolution within a system. These two orientations generate models which can be applied to the record of policy adjustment by states. By testing the fit of each model to subnational behavior, results can help highlight the dynamics which influence policy- adjustment rates in states.

Oral Knowledge by Doug Brent Typographic Knowledge, Electronic Knowledge: Speculations on the History of Ownership.

How the Marriage of Management and Computing Intensifies the Struggle for Personal Privacy by Rob Kling and Jonathan P. Allen Why is the continuing development of information technologies which seem to impinge on personal privacy a continuing struggle in contemporary advanced industrial societies?

Keynes, Einstein And Scientific Revolution . by James K. Galbraith One of the most intriguing and little-noted facts about John Maynard Keynes' masterwork, The General Theory of Employment Interest and Money, concerns the first three words of its title. These are evidently cribbed from Albert Einstein.

Management, Computing and Privacy by Rob Kling and Jonathan P. Allen Why is the continuing development of information technologies which seem to impinge on personal privacy a continuing struggle in contemporary advanced industrial societies?

Triple Integrate Decision Making Optimization by Dr. Jengeng Pao Draft translation of a book on mathematical modeling from Chinese into English.

Internet Economics

Economics and the Internet by Hal Varian. This is a collection of documents that have to do with the economics of the Internet, information goods, and related issues. It is maintained by Hal.Varian@umich.edu.

Economic FAQs About the Internet by Jeffrey K. MacKie-Mason and Hal Varian This is a set of Frequently Asked Questions (and answers) about the economic, institutional, and technological structure of the Internet. We describe the current state of the Internet, discuss some of the pressing economic and regulatory problems, and speculate about future developments.

Internet Packet-based Charging by Bob Smart

Collection of papers by Arnold Kling Business and Economics issues of the Internet (mostly WWW and Mosaic). Homefair Real Estate Information Services of Silver Spring MD. The Economic Consequences Of Www and Washington DC Area New Homes Guide , information age entrepreneurship

Economy of Ideas John Perry Barlow A framework for rethinking patents and copyrights in the Digital Age; Everything you know about intellectual property is wrong)

The Price of Fun Back when I was on Wall Street, I started to put together a simple spreadsheet that calculated the average price paid for an hour of fun. All kinds of fun. I priced out helicopter skiing in the Andes. I budgeted photo-safaris to Kenya. I tallied up carnivals, rock concerts, amusement parks and dude ranches. Or, how about reading a book. And, I even figured out the number of hours of fun in bottle of wine. No recreation was left un-charted.

David ChaumChaumElectronicPrivacy.html A cryptographic invention known as a blind signature permits numbers to serve as electronic cash or to replace conventional identification. The author hopes it may return control of personal information to the individual. This article appeared in Scientific American, August 1992, p. 96-101. Copyright (c) 1992 by Scientific American, Inc.

Esther DysonFrom DaveNet Esther Dyson is editor of Release 1.0, the premier software industry newsletter, founded by Ben Rosen in the late 70s. Esther hosts the very relevent PC Forum conference next scheduled for March 5-8 in Phoenix. She's a famous friend of neat new technology, a friend of eastern Europe, and a friend of mine!

Hayek-L on listserv@maelstrom.stjohns.edu

HAYEK-L@MAELSTROM.STJOHNS.EDU is an international network for researchers doing work connected to the contributions of Friedrich Hayek. Hayek is the co-originator of the Hebb-Hayek synaptic learning model and author of the well known _The Sensory Order_. Hayek's work in neuroscience has gained prominence in recent years due to Gerald Edelman's _Neural Darwinism_, and Joaquin Fuster's _Memory in the Cerebral Cortex: An Empirical Approach to Neural Networks in the Human and Nonhuman Primates_. Fuster, of the UCLA School of Medicine, writes "The first proponent of cortical memory networks on a major scale was neither a neuroscientist nor a computer scientist but .. a Viennese economist: Friedrich von Hayek (1899-1992). A man of exceptionally broad knowledge and profound insight into the operation of complex systems, Hayek applied such insight with remarkable success to economics (Nobel Prize, 1974), sociology, political science, jurisprudence, evolutionary theory, psychology, and brain science (Hayek, 1952) .. The main reasons for dwelling .. on Hayek's model is simply that it has certain properties, absent from most others, that conform exceptionally well to recent neurobiological evidence on memory and that make it particularly suited to the current discourse." (Joaquin Fuster, _Memory in the Cerebral Cortex: An Empirical Approach to Neural Networks in the Human and Nonhuman Primate_. Cambridge: MIT Press, 1995, p. 87, 89)

Hayek is also the originator of the intertemporal equilibrium construction, and his seminal work on the role of price signals in the coordination of dispersed and imperfect knowledge is the spur for much of the contemporary literature on these topics. Hayek was awarded the Nobel Prize in economics in 1974 for his work on the interconnection of economic phenomena. Nobel Prize winner Herbert Simon writes, "No one has characterized market mechanisms better than Friedrich von Hayek". Herbert Simon, _The Sciences of the Artificial_, 2nd Edition, Cambridge: The MIT Press, 1981, p. 41)

In addition, Hayek is the author of pathbreaking discussions on the nature of complex phenomena, spontaneous order, and on the character of generic explanations dealing with this sort of phenomena, work that has informed the thinking of Gerald Edelman, Walter Weimer, Karl Popper, Robert Nozick, Don Lavoie, Axel Leijonhufvud, Joaquine Fuster and other leading figures in economics, philosophy, and the cognitive sciences.

Hayek's work in the law has influenced the thinking of many leading members of the U.S. Federal bench, including that of the current Chief Justice of the Supreme Court. Such leading legal theorists as Ronald Dworkin, Richard Epstein, Bernard Siegan, and Joseph Raz have written on Hayek's well known work on the character and foundations of the law.

Robert Skidelsky, the respected biographer of John Maynard Keynes, describes Hayek as "the dominant intellectual influence of the last quarter of the twentieth century".

The basic purpose of the Hayek-L list is to serve as a forum for scholarly discussions and as a clearing house the distribution of information on academic conferences, publication opportunities, fellowship information, academic grants, and job openings of interest to Hayek scholars. Subscribers are encouraged to post questions, comments, or announcements of interest to individuals working on topics related to Hayek's writings. Appropriate postings might pertain to work currently in progress, the development of course materials, bibliographical material of interest to researcher to work related to Hayek, useful internet resources, inter-disciplinary inquiries, etc.

The list is for scholars and others interested the ideas of Friedrich A. Hayek without restriction according to interest or professional affiliation. Hayek-L is not devoted to any particular niche within the scope of Hayek's oeurvre, but instead welcomes contributions on any aspect of the full range of Hayek's contribution to contemporary scholarship. Discussions of the scholarly contributions of other important thinkers who have developed or criticized aspects of Hayek's work are also welcomed. E.g. discussions of the work of Gerald Edelman, Karl Popper, Frank Knight, Ronald Dworkin, Joaquin Fuster, Walter Weimer, Robert Nozick, John Maynard Keynes, Leonid Horwicz, Sanford Grossman, and others related to the work of Friedrich Hayek are also welcome.

To subscribe to Hayek-L, send mail to: listserv@maelstrom.stjohns.edu with the message (body): SUBSCRIBE HAYEK-L yourfirstname yourlastnameFor example: SUBSCRIBE HAYEK-L Jane Citizen For further information contact: Greg Ransom gregransom@aol.com> HAYEK-L list coordinator See also the Hayek Scholars Page

Copyright Law

Regulation Update on U.S. Software Exports by Fred Greguras This memorandum updates our previous reports on the same subject. Over the last few years, the Bureau of Export Administration ("BXA") of the Department of Commerce has implemented sweeping changes to the U.S. export licensing requirements for software under the Export Administration Regulations ("EAR") (15 CFR Parts 768 - 799). The export controls on software are integrated into the Commerce Control List ("CCL") along with those for hardware and technology rather than addressed separately outside of the list. The net effect is that requirements for software have been relaxed which has benefited international software distribution, particularly for mass-marketed software.

Software Licensing Flexibility Complements The Digital Age by Fred Greguras and Sandy J. Wong This paper summarizes our observations on current and future trends in software licensing practices. While U.S. issues are emphasized, some global issues are also addressed because of the trend toward global computing environments and the importance of international revenues to the U.S. software industry.

Copyright Law for Multimedia Developers J. Dianne Brinson and Mark F. Radcliffe This primer will help you understand the legal issues in developing and distributing multimedia works. It is based on the Multimedia Law Handbook from Ladera Press, which has been endorsed by the Interactive Multimedia Association. This summary of the law should not be viewed as "answering" most questions (the Multimedia Law Handbook discusses these issues in more detail in 340 pages and includes eighteen sample agreements to show how these issues are dealt within actual transactions; you can order the book by calling 800-523-3721). Legal matters in multimedia are frequently complex and you should not rely on the information in this primer alone. You should consult with experienced counsel before making any final decisions. Multimedia products require a knowledge of the four major forms of intellectual property as well as the laws governing rights of publicity, defamation and libel.

Smart Contracts by Nick Szabo computerized transaction protocol that executes terms of a contract. The general objectives of smart contract design are to satisfy common contractual conditions (such as payment terms, liens, confidentiality, and even enforcement), minimize exceptions both malicious and accidental, and minimize the need for trusted intermediaries.

Miscellaneous

The Congress of the United States: An Apology The Economist IN COMMON with others, this column has, on occasion, found it expedient to hold up to public ridicule and contempt the members of the United States Congress. We have believed them to be a bunch of men and women of extraordinary pomposity, as windbagged as the worst Welshman, unable to raise their sights above the most mundane interests of their local constituents, and generally mildly corrupt.

Freenets And The Politics Of Community In Electronic Networks by Garth Graham Government Information in Canada. The article should be of interest to everyone concerned with computer networking and its place in the community.

Marxism

Manifesto of the Communist Party Karl Marx and Frederick Engels

Marxism Page by Rick Kuhn.

Karl Marx Karl Marx, along with Friedrich Engels, defined communism. In the Communist Manifesto, which they wrote and published themselves in London in 1848, Marx and Engels portrayed the natural evolution of a communist utopia from capitalism. This revolutionary theory added fuel to the social struggles that characterized Europe during the latter half of the 19th century. The working class, or proletariat, as defined by Marx, emerged from the increasing industrialization of Europe and the United States during that time. In Das Kapital, Marx explained that objects have value only in so far as human labor is used to make them. He believed that this "labor theory of value" inherently made the worker more important than the capitalist who exploits the labor of the worker. In Marx's conception of utopia, communism, there is no capitalism and no state, just a working society in which all give according to their means and take according to their needs.

Answer to the "Philosophy of Poverty" by M. Proudhon chapter 2 THE METAPHYSICS OF POLITICAL ECONOMY 1. THE METHOD Here we are, right in Germany! We shall now have to talk metaphysics while talking political economy. And in this again we shall but follow M. Proudhon's "contradictions". Just now he forced us to speak English, to become pretty well English ourselves. Now the scene is changing. M. Proudhon is transporting us to our dear fatherland and is forcing us, whether we like it or not, to become German again.

Alienation For Marx, the history of mankind had a double aspect: It was a history of increasing control of man over nature at the same time as it was a history of the increasing alienation of man. Alienation may be described as a condition in which men are dominated by forces of their own creation, which confront them as alien powers. The notion is central to all of Marx's earlier philosophical writings and still informs his later work, although no longer as a philosophical issue but as a social phenomenon. The young Marx asks: In what circumstances do men project their own powers, their own values, upon objects that escape their control? What are the social causes of this phenomenon?

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GettingSmallMerchantStatus

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