Evaluating something as wide ranging, multifaceted and complex as e-government is a challenging undertaking. This chapter looks at this problem from an economic perspective, considering the value delivered by e-government at three levels. First the potential impact of the deployment of ICT in government is examined from the macro economic perspective of the national economy. Secondly, it is explored at the micro economic level of organisations, firms and government agencies. Finally it is considered at the level of the individual citizen for which the term pica economics is coined. It is concluded that e-government delivers ample value, but of a quite different nature, at each of these levels and that any endeavour to evaluate e-government holistically requires a good understanding of its contribution at all three levels.