George W. Bush: Wikipedia is a little bit static. It doesn't quite fulfill the promise that it had as it was growing. And let me suggest a related challenge. There are a lot of apps out there that you and I might use and love. They may, just like other apps and other websites, don't make it in the internet economy. The question is, what's going to happen to my stuff?
Economist and author Michael Munger of Duke University talks about his book, Tomorrow 3.0, with EconTalk host Russ Roberts. Munger analyzes the rise of companies like Uber and AirBnB as an example of how technology lowers transactions costs. Users and providers can find each other more easily through their smartphones, increasing opportunity. Munger expects these costs to fall elsewhere and predicts an expansion of the sharing economy to a wide array of items in our daily lives.