WASHINGTON D.C. - Considered by policymakers, reporters and analysts to be a 'must-have' source of objective information on the state of the digital economy, The Digital Economy Fact Book is now available in its fifth edition. Sorting out myths from realities and hyperbolic hopes from sober projections, it presents the best available information on Internet growth, the hardware and communications sectors, e-commerce, financing of the digital sector and the entire digital economy. "The digital economy is no longer a novelty, but an indispensable part of the American economy and of Americans' lives," writes Progress & Freedom Foundation President Raymond L. Gifford in the foreword of the book co-written by William F. Adkinson, Jr., Erik T. Heinecke and Thomas M. Lenard. "The full implications of the digital economy have yet to be understood. But there are glimpses in this volume of what may be happening."

Just as it sought in previous editions to avoid the excessive dot.com hype of the boom years, The Digital Economy Fact Book aims to transcend the doom and gloom of current prognosticators, choosing instead a fact-based approach. "The Digital Economy has been subject to exuberant hype and smug pessimism," Gifford writes. "It has been haled as the harbinger of new modes of human interaction, or belittled as much ado about nothing. As a corrective to these various attitudes, we offer this volume. Of facts."

This volume will help readers answer the most-asked questions about the IT sector: Is it growing again? Is it still in the tank? Is broadband proliferating or stagnating? Has venture capital ventured forth again, or does it remain on the sidelines? Is a viable e-commerce business model emerging, or do consumers prefer traditional brick and mortar stores?

"In the spirit of Sergeant Joe Friday from Dragnet, we attempt to offer 'just the facts'," writes Gifford. "[F]rom these facts, certain legal, regulatory and economic policy discussions can begin, but we do not presume to begin them here." The Fact Book can be purchased through the PFF web site here.

The Progress & Freedom Foundation is a market-oriented think tank that studies the digital revolution and its implications for public policy. It is a 501(c)(3) research & educational organization.