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Not the whole story

As an avid Economist reader, I was interested to see that their coverage of open source got a strong recommend from a Slashdot poster (well, as strong as anything that is covered by copyright ;-)

The poster did not really get the full story, just the parts where The Economist examines the strengths of open source. What about the discussion of the weaknesses as well? Can open source really foster innovation or is it just doomed to copy commercial products? Can the open source model (or whatever you want to call it) be extended to rivalrous (not purely informational) goods? Can it succeed in fields that don't have the "anyone but Microsoft" motivator?