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The Economics of Information and Industrial Change
The economics of information and industrial change
Don Lamberton

The economics of information is not a tidy, separate small part of economics for some reason of special interest in media matters. The information perspective is a significant challenge to the whole corpus of economics, with destructive implications for mainstream economic theory and its analytical and policy outcomes, yet holding great potential for new theory, new approaches to organization, and new solutions to decision and policy problems. Information, which includes knowledge or ‘information of indefinite tenure’ (Machlup, 1982: 9), is multifaceted: a resource, a commodity, a perception of pattern, a constitutive force in society (Braman, 1989). It is central to the making of decisions by consumers, business and governments and ...

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