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Antitrust

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The Harvard review argues;"In the New Economy there will inevitably be an increasing number of markets with only a few dominant players." Why would that be so?

Are we mistaken in pursuing Microsoft and other "new economy" giants with "old economy" antitrust principles? Please explain

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Hi,

Interesting questions! Let's take a closer look, which you can draw on for your final copy.

RESPONSE:

1. The Harvard review argues; "In the New Economy there will inevitably be an increasing number of markets with only a few dominant players." Why would that be so?

There is a general trend to consider in this discussion. We are seeing a shift in the economy from localized physical markets and physical interchanges to digital networks of all kinds: business-to-business networks, peer-to-peer networks, web auctions, the digital brokering of commodities, genealogy groups, chat networks, and outsourcing networks. These networks are made possible by connectivity, and backed by computers. Many people are aware of this shift. For example, Manuel Castells of Berkeley has pointed out that in a sense this is not new: formal and informal networks have been around for a long time, but we are currently entering an electronic age of competing digital networks. Networks are the first emergent structure (e.g. dominant pattern) that we are seeing in the digitally based economy. In contrast, factories with inputs and outputs are the dominant ...

Solution Summary

This solution discusses why the following statement is true: "In the New Economy there will inevitably be an increasing number of markets with only a few dominant players." It also discusses if we are mistaken in pursuing Microsoft and other "new economy" giants with "old economy" antitrust principles.

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