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Introduction to
Computer Technology,
Network Economics,
and Intellectual
Property Law And Future of Bitcoin
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Computer software and Internet commerce are among the fastest growing and
most promising industries in the United States. A recent government report
notes that more than half of U.S. nonfarm industries either produce information
technology (IT) directly or invest in and use information technology products
and services. U.S. Commerce Department, The Emerging Digital Economy II
(1999). The information technology sector of the U.S. economy represented 8
percent of gross domestic product (GDP) in 1999, accounting for more than
$700 billion. Computer software accounted for $200 billion of this total. The
IT sector of the U.S. economy has steadily increased its share of the GDP in the
1990s and shows no sign of slowing down. These patterns can be seen
throughout the global economy. A World Gone Soft: A Survey of the Software
Industry, The Economist (May 25, 1996).
While firms such as Intel, Microsoft, Compaq, IBM, Cisco, AOL, and
Amazon.com attract much of the attention in the IT marketplace, the IT
industries touch almost all aspects of the modern economy. For example,
traditional manufacturing firms, such as General Motors, make significant use of
computers, computer software, and computer networks in their businesses.
Automobile manufacturers use CAD (computer-aided design) software to
design new vehicles, CAM (computer-aided manufacturing) software to as-
semble these designs, and digital networks to purchase component parts and to
distribute vehicles to customers. Few businesses, government agencies, schools,
or other organizations operate today without extensive use of computer
technology and digital networks. An increasingly wide array of companies—
whether they sell information, cars, or anything else—use digital networks,
principally the Internet, to market products and transact business. While it is
easy to scoff at estimates of the potential growth of global electronic commerce
because they seem like (and probably are) rank guesswork, electronic commerce
has surpassed what once seemed like exaggerated estimates. The Emerging
Digital Economy II report notes that in 1997 “private analysts forecast that the
value of Internet retailing could reach $7 billion by 2000—a level surpassed by
nearly 50 per cent in 1998.” While the popular press has mainly concentrated
on the growth of Internet business-to-consumer companies, such as Ama-
zon.com, many industry experts believe that business-to-business ecommerce
will be larger and have more far-reaching implications for the U.S. economy.
Internet technology makes possible great efficiencies in the ways businesses are
structured, distribute product and service information, and conduct trans-
actions. The extent of these possibilities are just beginning to emerge.
This chapter describes the early history of computing in Section A. It
explains how computers work in very basic terms in Section B, and introduces
the principal models of software engineering in Section C. Section D discusses
the distinctive economics of computer software and network markets. Finally,
Section E offers an overview of the principal intellectual property laws
protecting computer technology. Subsequent chapters address these legal
regimes in greater detail.
Readers with a strong understanding of how computers work and how
programs are written should feel comfortable in skipping or skimming Sections
A through C. They should read the balance of the chapter in detail, however,
because the economics of computer software and the intellectual property
background may be unfamiliar—and will be important in the chapters to come.
Students who do not have a strong background in computer technology
should review Sections A through C at this time. For those students, a brief
note on methodology in this chapter is in order. Our goal in providing in-
formation about the computer industry is to offer students essential background
on how computer software works and how markets for computer software
function. We do not intend this introduction to provide a complete under-
standing of the field. In our summaries below, we reference a number of
excellent sources providing detailed background. The reader who is interested
in more detail than we can possibly provide here should seek out these sources.
A. THE EARLY HISTORY OF COMPUTERS
This Section introduces the reader to the early history of computer
hardware and software. The purpose of this Section is to describe the enormous
changes that occurred in the early days of the computer industry in order to
provide context for the discussions that will follow. This Section does not
describe events up to the present day. More recent developments (including
the growth of the Internet) are discussed in the sections that follow, and in
later chapters, where modern technological developments often present new
legal issues.
1. Computer Hardware
The critical breakthrough defining modern computers was the harnessing
of electrical impulses to process information. In 1939, Professor John Vincent
Atanasoff, with the help of his graduate student, Clifford Berry, developed the
first electronic calculating machine. This computer could solve relatively
complicated physics computations. Atanasoff and Berry built a more sophisti-
cated version, the ABC (Atanasoff Berry Computer), in 1942. Shortly thereafter,
driven in part by wartime demand for computing technology, Professor Howard
Aiken, funded in substantial part by IBM, developed a massive electro
2. Computer Software
During the 1940s and 1950s, hardware and software innovation were
integrated. The development of computer software was a highly specialized field
of scientific research done by academic, government, and government-funded
commercial research laboratories. Those who worked with computers had
significant scientific and technical expertise. The computer languages and
techniques for developing programs were just being created and tested.
Computers had relatively narrow use in scientific, military, and space appli-
cations. Each computer was unique, and programming was specialized for
each machine.
IBM became and remained the dominant force in the commercial
computer industry from the 1950s until the early 1980s. During the 1950s and
1960s, IBM and other mainframe manufacturers (e.g., Burroughs, Raytheon,
RCA, Honeywell, General Electric, Remington Rand) bundled operating
system and application software with hardware for the same price, commonly
through a leasing arrangement. During the early stages of the industry, this
bundling arrangement made economic sense because there were relatively few
computer applications and the hardware manufacturers were able to support
these uses of their systems.
As the industry developed, manufacturers encouraged their customers to
share software among themselves through software-sharing institutions. IBM
B. AN INTRODUCTION TO COMPUTER
TECHNOLOGY
Virtually unknown 50 years ago, computers literally surround most
Americans in their daily lives today. In their most easily recognized form,
mainframe and minicomputers can be found in most businesses, government
offices, and schools. Microcomputers can be found on most business and home
desktops for use in word processing, information storage, entertainment games,
and electronic shopping. Less commonly recognized, computers can also be.
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