The World Wide Web and the Wealth of Nations: Does IT Matter?

author: Martin Hepp, Bundeswehr University of Munich
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Slides
0:00 The World Wide Web and the Wealth of Nations: Does IT Matter?
0:00 Part I: Specialization, Coordination and Wealth
0:10 Division of Labor and Specialization Gains
1:48 Exchange and Coordination
3:44 Transaction Costs: “Coordination Is No Free Lunch”
5:00 Our Ability to Economize on the Cost of Coordination Constrains Our Ability to Specialize
6:18 Macroeconomic Impact of Transaction Costs
8:28 Some Drivers of Transaction Costs
12:19 Part II: Selected Functions of Enterprises in Markets
12:28 Inter-temporal Transformation
14:06 Volume Transformation
14:50 Risk Transformation
16:52 Coordination and Production
17:42 Imperfect Information and Uncertainty
19:48 … Under Uncertainty
21:26 It’s All About Information
22:29 Information Overload Is a Myth
24:27 Category Systems …
25:39 … Are Essential for Efficient Information Processing …
26:31 … For Humans and Computers Alike!
27:55 Part III: The Economics of Automation
28:05 Man Has Tried For Ages ...
29:00 When Is Automation Efficient?
32:00 Computer Information Systems
32:56 Software Reuse
34:24 Reuse and the Toy Train: Small or Large Building Blocks
34:56 (Simplified) Economics of Reuse
35:46 Reuse and the Toy Train: Small or Large Building Blocks
35:54 (Simplified) Economics of Reuse
36:04 Part IV: Information Technology and the World Wide Web
36:18 The Nature of Information Processing in the Machine
37:54 Category Systems in the Mind and in the Machine - 1
40:18 Category Systems in the Mind and in the Machine - 2
41:58 The World Wide Web - 1
43:07 The World Wide Web - 2
43:08 The World Wide Web - 3
43:13 The World Wide Web - 4
43:17 The World Wide Web, Essentially
44:19 First Web Server
44:35 First Browser
44:47 Hypertext '91 Conference
45:54 The Web Fosters The Particular
46:39 Part V: Where Are We Heading?
46:51 Recap: Specificity
47:01 Growth in Specificty - 1
47:25 The Range of Production on the Level of the Overall Economy
49:30 Growth in Specificity - 2
49:47 1920: 5168 Types of Goods
50:43 Growth in Specificity - 3
51:38 Growth in Specificity - 4
52:25 Examples - 1
53:04 Examples - 2
53:22 Examples - 3
53:47 Specificity and Uncertainty
54:34 Specificity Creates Long-Tail Effects
56:25 Conceptual Specificity Induces Symbolic Specificity
59:45 Increased Specificity of Data Structures
60:18 Increased Specificity of Processes
61:22 Long-tail Effects in the Processes Landscape
63:43 The Money is on the Long Tail
64:22 Long-tail Effects in the Processes Landscape
64:49 The Money is on the Long Tail
64:55 Part VI: Does IT Matter?
65:12 Recap: We Must Master Specificity
65:44 Computers May Help…
66:06 Has ICT Lowered the Cost of Coordination?
66:39 The Productivity Paradox
69:41 Could ICT Lower the Cost of Coordination?
71:20 Search: Yellow Pages vs. Google
72:01 Hepp Computertechnik
75:15 But: Google Still Insufficient on the Long Tail of Search
78:18 Part VII: Can IT Be A Commodity?
78:28 Carr’s Claims
80:18 What is a Commodity?
81:10 But: IT Determines the Sensory and Cognitive Performance of Enterprises
86:17 Component Reuse is Not Equivalent to Turning IT into a Commodity!
87:10 IT Must Represent the Category Structures of Human Reality
87:42 Computer Information Systems Show Massive Economies of Scale
88:14 The World Wide Web Allows Reuse Even on the Long Tail
89:12 Part VIII: Conclusion
92:38 Epilogue
93:09 Thank you

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