Eli Noam
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Eli Noam (born 1946) is the director of the Columbia University Institute for Tele-Information.
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- ...we need to recognise that the entire information sector—from music to newspapers to telecoms to internet to semiconductors and anything in-between—has become subject to a gigantic market failure in slow motion. A market failure exists when market prices cannot reach a self-sustaining equilibrium. The market failure of the entire information sector is one of the fundamental trends of our time, with far-reaching long-term effects, and it is happening right in front of our eyes.
- Source: An FT.com column
- Notes: The context of this quote was a digression on the media, telecommunication, information technology, and internet industries.
