Open-source software is worth a lot more than you might think

University research has put the worldwide value of all open-source software at about $14.45 trillion. (Image: Depositphotos)

Bloomberg

Sun, 03 Mar 2024

By Tyler Cowen Open-source software may well be the greatest “public good” the market economy has ever produced. What it shows is the power of voluntary social cooperation.Standard neoclassical economic theory holds that goods and services with widespread benefits get produced only if their maker can charge customers for them. Open-source software – defined as “something people can modify and share because its design is publicly accessible” – unquestionably has widespread benefits, yet it is free. T...

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