Virtual economics: calculating the I-Way

A new type of product has entered the marketplace. In its best known form, the computer program, the virtual product is to be found in shops and mail-order catalogues. The virtual product is beginning to replace whole industries. An exact list of which industries are to change and how that change will affect them is not possible, though broadcasters and publishers are often cited as being the first to go. Given a perfect virtual economy, only access to the Information-Way will decide transfer costs and therefore location