The Emerging Digital Economy

This 1999 report of the U.S. Department of Commerce describes the potential impact on the economy of the Internet and electronic commerce.

In explaining their methodology, the report’s authors noted, “because the Internet is new and its uses are developing very rapidly, reliable economy-wide statistics are hard to find. Further research is needed. This report therefore uses industry and company examples to illustrate the rapid pace at which Internet commerce is being deployed and the benefits being realized.”

The authors conclude that, assuming the trends suggested by their preliminary analysis continue, “IT and electronic commerce can be expected to drive economic growth for many years to come.” They urge the private sector and governments to work together to create:

• a predictable, market-driven legal framework to facilitate electronic commerce;

• non-bureaucratic means that ensure that the Internet is a safe environment; and

• human resource policies that endow students and workers with the skills necessary for jobs in the new digital economy.