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The Assessment: Economics of the Internet

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  • Andrew Graham

Abstract

Seen from the perspective of economics, the Internet has been widely regarded as a major force likely to raise productivity. However, at least so far, the identifiable effects on productivity appear small and largely confined to the USA. Similar scepticism is expressed about the view that the Internet would be naturally highly competitive. On the contrary, economies of scale and scope plus advertising-intensive reputations create the threat of concentration. As a result, a pro-competitive stance for policy is required--and in taking such a stance policy must look over the full range of the value chain. Such a pro-competitive stance is, however, not sufficient. Because of other market failures and because of the need to protect democratic rights, a wider view of policy is essential. The fundamental policy issues facing the Internet are, therefore, whether it can remain open, competitive, and pluralistic in a context increasingly dominated by large corporations. Copyright 2001, Oxford University Press.

Suggested Citation

  • Andrew Graham, 2001. "The Assessment: Economics of the Internet," Oxford Review of Economic Policy, Oxford University Press, vol. 17(2), pages 145-158, Summer.
  • Handle: RePEc:oup:oxford:v:17:y:2001:i:2:p:145-158
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    Cited by:

    1. Falkinger, Josef, 2007. "Attention economies," Journal of Economic Theory, Elsevier, vol. 133(1), pages 266-294, March.
    2. World Bank, 2004. "Chile : New Economy Study, Volume 2. Background Documents," World Bank Other Operational Studies 14711, The World Bank.
    3. Lee, Boon-Chye, 2002. "Regulation and the New Economy," Economics Working Papers wp02-18, School of Economics, University of Wollongong, NSW, Australia.
    4. Daniel Johnson & Kristina Lybecker, 2012. "Does Distance Matter Less Now? The Changing Role of Geography in Biotechnology Innovation," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 40(1), pages 21-35, February.

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