How should economics view the Internet?

Abstract

PurposeThe study aims to elaborate the author’s basic viewpoints on how economics should view the Internet from four aspects.Design/methodology/approachThis paper reviews the existing literature on this topic, and summarizes key findings and conclusions of these researches.FindingsThe findings include four major contradictions in economics brought by the Internet, and 12 new changes in economics that needs to be addressed.Originality/valueThis paper provides a clear summary of existing studies on economics’ views of the internet and a prospect for future internet economy research.