Open source economics textbook

By August 21, 2008free

In another bite-sized piece of evidence of the trend towards ‘free’ Preston McAfee has written an open source economics text book – reported on Techdirt and in the LA Times.

The PDF is available for free and there is an ‘open source’ Word version where he will capture user suggestions.

In the digital world the marginal cost of producing an extra copy is zero – which is what underpins my belief in the trend towards free and the need for new business models. McAfee explains it like this in his textbook:

Economics studies the allocation of scarce resources among people – examining what goods and services wind up in the hands of which people. Why scarce resources? Absent scarcity, there is no significant allocation issue.