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Unformatted text preview: gs Come From?
?????????????????? I t is important to distinguish
between increasing the supply
of a good that has existed for some
time (increasing the supply of corn,
paper, or shoes) and creating the
supply of a good that has never
existed before. Many goods that we
have today—digital video recorders
(first introduced by TiVo), podcasts,
and blogs, for example—weren’t
available to us in the past. Where
did these goods and the ideas for
them come from?
Two answers come to mind:
new technology and entrepreneurship. To illustrate how these two
factors sometimes work together,
consider a blog. A blog, or weblog,
is a personal Web site with a dated
log (diary-like) format that contains
commentary and links to other Web
sites. Only about 30 blogs existed at
the beginning of 1999. Today, you
can find millions. The first blogs
were hand-coded by Web developers who taught themselves HTML (a
markup language designed to create Page 118 Web pages). Then, programmers
created new software programs (a
technological development), and
entrepreneurs responded to the
unfulfilled demand for posting
items on the Web, leadin...
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This document was uploaded on 01/16/2014.
- Winter '14