Some call economics "the dismal science," and books on the subject can be as dry as dust. Undeterred by that reputation, the two economists who wrote this book promise to provide readers with the "cool stuff" they need to know to compete in today's information economy. And they deliver on that vow, using a variety of detailed anecdotes and an accessible writing style to illustrate their basic premise: Technology changes; economic laws do not. For instance, "If you are struggling to comprehend what the Internet means for you and your business, you can learn a great deal from the advent of the telephone system a hundred years ago." Executives and policy-makers alike will find this a useful read. Highlights: Shows how businesses competing in the information economy can draw on classic economic theories to develop value-maximizing pricing strategies, plan product lines, and manage intellectual property rights. Explains the concepts of lock-in and switching costs, and offers strategies for capitalizing on these factors. Illustrates ways business can take government policy and regulations into account in their strategies. Advantages: Chapters end with lessons that summarize important points. Each chapter lists further reading suggestions on the topics covered. Related Titles: Not everyone thinks long-standing economic principles are relevant in today's marketplace. For a different view, try New Rules for the New Economy: 10 Radical Strategies for a Connected World. If you want to brush up on basiceconomic theory, try Principles of Economics or Economic Way of Thinking, Ninth Edition.