If economics is about the allocation of resources, then what is the most precious resource in our new information economy? Certainly not information, for we are drowning in it. No, what we are short of is the attention to make sense of that information. 

With all the verve and erudition that have established his earlier books as classics, Richard A. Lanham here traces our epochal move from an economy of things and objects to an economy of attention. According to Lanham, the central commodity in our new age of information is not stuff but style, for style is what competes for our attention amidst the din and deluge of new media. In such a world, intellectual property will become more central to the economy than real property, while the arts and letters will grow to be more crucial than engineering, the physical sciences, and indeed economics as conventionally practiced. For Lanham, the arts and letters are the disciplines that study how human attention is allocated and how cultural capital is created and traded. In an economy of attention, style and substance change places. The new attention economy, therefore, will anoint a new set of moguls in the business world—not the CEOs or fund managers of yesteryear, but new masters of attention with a grounding in the humanities and liberal arts. 

Lanham’s The Electronic Word was one of the earliest and most influential books on new electronic culture. The Economics of Attention builds on the best insights of that seminal book to map the new frontier that information technologies have created.

The personal computer has revolutionized communication, and digitized text has introduced a radically new medium of expression. Interactive, volatile, mixing word and image, the electronic word challenges our assumptions about the shape of culture itself.

This highly acclaimed collection of Richard Lanham's witty, provocative, and engaging essays surveys the effects of electronic text on the arts and letters. Lanham explores how electronic text fulfills the expressive agenda of twentieth-century visual art and music, revolutionizes the curriculum, democratizes the instruments of art, and poses anew the cultural accountability of humanism itself.

Persuading us with uncommon grace and power that the move from book to screen gives cause for optimism, not despair, Lanham proclaims that "electronic expression has come not to destroy the Western arts but to fulfill them."

The Electronic Word is also available as a Chicago Expanded Book for your Macintosh®. This hypertext edition allows readers to move freely through the text, marking "pages," annotating passages, searching words and phrases, and immediately accessing annotations, which have been enhanced for this edition. In a special prefatory essay, Lanham introduces the features of this electronic edition and gives a vividly applied critique of this dynamic new edition.