With the Joint Economic Committee in the U.S. Congress hosting the National Summit on High Technology last week, it is worth pointing out a new study examining the impact of the Internet and e-commerce on the U.S. economy.

According to an Associated Press report, a just-released study from the Center for Research on Electronic Commerce found the following:

In 1998, the Internet generated $301 billion in revenue and was responsible for 1.2 million jobs.

All sectors of the Internet have been doubling for the past three years.

Average revenue per full-time employee of Internet-based companies registered $250,000 versus $160,000 in typical industry sectors (though the software industry often uses temporary workers).

This study manages to put numbers on the evident explosion in e-commerce.  On the policy front, it's time for government to remove tax, regulatory and trade barriers that serve as competitive obstacles to this dynamic, growing part of our economy.