The Net As Free Market Utopia? Think Again

Many prophets of cyberspace think the Internet is the apotheosis of the marketplace. The whole affair is marvelously decentralized and self-executing, with no need for pesky regulations. Any seller can offer wares to any buyer, worldwide. For theorists such as authors George Gilder and John Naisbitt, and for Peter Huber of the Manhattan Institute for Policy Research, the world of computer-mediated communication realizes a market utopia--Adam Smith with a computer.

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