In particular, Paul Krugman, another Nobel laurate, stated in the early 1990s that "either the technology isn't all it's cracked up to be, or we haven't yet seen the impact of the new technology on the economy"9, while Robert Gordon concluded that computers made only a small contribution to productivity because "there is something wrong with computers"10. This led to the development of a new theory based on growth accounting economics that could not only pinpoint the economic impact of information technology, but also identify differential effects by region of the world11. For example, a study relating labour productivity growth on ICT investments on an industry level concluded that the faster productivity growth in the US compared to EU countries can be attributed to a larger employment share in the ICT producing sectors and a faster growth in industries that intensively use ICT12. No one doubts today that computing in particular and ICT in general have significantly contributed to economic growth in the industrialized world during the 1990s and 2000s. As detailed above, the study of the economic effects of broadband presents several methodological challenges. Research has confronted these challenges by proceeding along three avenues.