The Internet changes everything! Or so claimed the legions of over- excited Internet boosters who saw in the new technology the overthrow of all the old rules of economics and business.
In Re-Thinking the Network Economy, Stan Liebowitz explains why the dot.com bust was inevitable. The theme of this summary, however, is not, “I told you so!” but rather, “Here’s what will work.” The Internet does offer many incredible business opportunities, Liebowitz writes, as long as busi- nesspeople and their advisors don’t ignore the traditional, fundamental concepts and strategies of commerce and economics. The laws of supply and demand still hold true. Economies of scale are still pertinent.
The rules, in sum, still apply.
In Re-Thinking the Network Economy, Liebowitz examines the eco- nomic forces relevant to Internet commerce, thus identifying the models and strategies that have the greatest chance of success.