Ross Gittins is my favourite economist (well, to be honest, the list of economists I know by name isn't exactly a novel). In this article he arbitrarily assigns value to the many hard-to-quantify benefits of the internet as a technology.
http://www.rossgittins.com/2011/08/net-benefits-at-50-billion-and-climbing.html
You may argue figures with him (if you are a more confident mathematician than I) but it definitely brings the Net into the arena of a major industry. Hard to believe of an entity that is still 90% grammatically incorrect cats.
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