In June 2016 the Organization for Economic Cooperation and Development (OECD) hosted a meeting of ministers to consider the state of the Digital Economy. The central message from this meeting was the message that: "Governments must act faster to help people and firms to make greater use of the Internet and remove regulatory barriers to digital innovation or else risk missing out on the potentially huge economic and social benefits of the digital economy." All well and good, and as a piece of rhetoric it seems to strike an appropriately positive note without straying far from what appears to be bland truisms of our time.
Optimizing its resource allocation is far from all that China must do to boost prosperity. It is time to focus on workers and elevating the experience of their labor, the importance of which economists from Adam Smith to Karl Marx and Alfred Marshall have placed at the center of their concerns.
Jeremy G. Philips reviews “Platform Revolution” by Geoffrey G. Parker, Marshall W. Van Alstyne & Sangeet Paul Choudary; “Matchmakers,” By David S. Evans & Richard Schmalensee; and “Modern Monopolies” by Alex Moazed & Nicholas L. Johnson.
Whaling was a big business in the 19th century, but, thankfully for the whales, it's now more or less a historical footnote. A pair of Harvard Business School professors thinks there's still value, though, in teaching students about the defunct industry that peaked in 1858. Thales Teixeira and David Bell recently authored a case—the standard HB
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