The Long Tail: How Endless Choice Is Creating Unlimited Demand by Chris Anderson has just been released. I must admit its an amazing book. Wikipedia describes it thus:-
Anderson argued that products that are in low demand or have low sales volume can collectively make up a market share that rivals or exceeds the relatively few current bestsellers and blockbusters, if the store or distribution channel is large enough.
In reading it I agreed with it. TO SOME DEGREE. Anderson feels niche markets, in the digital age, storage is cheaper if not costless. But this is untrue. Apple's Itunes still takes up storage and bandwidth space. Apple still had to invest in making it a the best MP3 download site (to pay for). I'm not the only person to disagree. Tim Wu has a very good piece, pointing out that Anderson looks at only digital areas and not areas like petrol (which is more important to the economy than the internet. I think?) Lee Gomes in the Wall Street Journal is also critical. But as an economoc principle and a book its well worth a read. 8 out of 10.