These at least are some of the questions that I have about the economic impact of the Internet on education. We are in the third year of this experiment with technology and the jury is still out from what I can ascertain. Having said that, I do enjoy having access to the web in front of a class. Email has changed my ability to communicate with students greatly, though it can become a classic example of how not to best manage your time. There are a number of aspects of the article from Ross Emmett that I agree with - in particular that these new technologies allow opportunities for increased connectivity, interactivity, and hypertextuality.
Students can escape their parochial notions of the world with connectivity and interactivity.
I also see particularly exciting potentialities in tutoring for the principles of economics using hypertextuality. I think we will develop materials that are far better at anticipating the next question in the argument and allowing students to pursue the many nooks and crannies of it. I do wonder however, where those first sparks of interest will come from. Let me take the analogy a bit further. Getting students engaged is only a first step.