In a commentary recently published by the Federal Reserve Bank of Cleveland, Altig and Rupert report that 45 percent of households in the United States own a personal computer. In Europe, that drops to 23 percent and falls to 17 percent in Japan.
There is an even bigger disparity when it comes to Internet-connected households. The main inhibitors are the very same elements that prevent widespread public access of the Internet high taxes and capital market imperfections and interfere with technological progress in general.
In other words, Altig and Rupert write, economic infrastructure matters, and those policies and regulations that interfere with creative access to new technologies have a very real negative impact on the wealth of nations.
To look at the report, visit www.clev.frb.org.