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Essay / Research Paper Abstract
A 4 page paper. The writer reports the premise that the Internet is a new economy comprised of four layers and comments on the Internet changing many aspects of our lives but does this mean it creates a new economy. The writer argues that it does not. Bibliography lists 4 sources.
Page Count:
4 pages (~225 words per page)
File: MM12_PGnetecn.rtf
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Unformatted sample text from the term paper:
being referred to as the digital or the Internet economy" (Barua et al, 1999). The Internet, according to many, was creating a new economy (Melody, 2003). The Internet Economy has
been compared by many to the Industrial Revolution because of its size, scope and potential (Barua et al, 1999). These authors suggested the new economy depended on high-speed networks that
are based on "the Internet protocol (IP), Internet applications, new marketing and business tools, and electronic intermediaries to increase the efficiency of Internet-driven markets" (Barua et al, 1999). The same
authors identified four layers in the Internet Economy: the Internet Infrastructure Layer, the Internet Applications Layer, the Internet Intermediary Layer and the Internet Commerce Layer (Barua et al, 1999). Each
layer generates its own revenue and provides hundreds of thousands of jobs (Barua et al, 1999). Players in the first two layers, the Internet infrastructure and the Internet applications total
more than half of the Internet economy (Barua et al, 1999). Even with this analysis and the commonly-used phrase, Internet Economy, does the Internet actually create a new economy? We
all remember hearing the proclamation that "the Internet changes everything" (Liebowitz, 2002) but does it really change everything? Certainly, it changes the way business is conducted, the way people communicate
with each other, how researchers research, how financial transactions occur and hundreds of other things. The Internet changes many different aspects in our lives but so did all the
technological advances that came before it (Liebowitz, 2002). Woodall (2000) commented that information technology "is revolutionising the way we communicate, work, shop and play." What has remained constant through
technological advances is the "tried-and-true business strategies" (Liebowitz, 2002) and "economic and business rules" (Liebowitz, 2002). The reason these rules remain constant is because economic forces dont change, no matter
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