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The bubble burst. Within months, dot-com once-millionaires were scratching around for jobs. Nevaer proves that the laws of classical economics were never repealed, and that the New Economy was more Old Economy than many people believed. His briskly provocative new book shows how the return of common sense is opening fresh opportunities for wealth creation in badly battered industries—the entertainment industry especially—and offers five keys to understanding the online economy overall. The crash, says Nevaer, was inevitable. Characteristics of the New Economy created market imperfections that led to total failures. The negative effects were not isolated. They hurt the whole economy. The online community also fostered undesired social outcomes—pathological consumer behavior—but the potential for more beneficial gains is still indisputable.
Nevaer applies the fundamental theories and ideas of classical economics to the world online, providing a concise understanding of what properly belongs to the Old Economy, and what belongs to the New. He examines the real—that is, sustainable—components of the New Economy centered on five industries: publishing, music, video games, and, to some dismay, gambling and adult entertainment. Meticulously researched and documented, Nevaer's book is an authoritative, probing account for analysts, researchers, students, and scholars. As a study of American culture and society, it is an entertaining read for knowledgeable people everywhere.
|Pt. I||Everything Old is New Again||1|
|1||Reports of the Birth of the "New Economy" are Greatly Exaggerated||3|
|2||Why the Laws of Economics Apply in Cyberspace||21|
|3||The Tyrannies and Dilemmas of E-Commerce||37|
|4||Private Wants, Public Needs, and the Seismic Shift in the Economic Landscape||59|
|5||Doing Old Things in a New Way||85|
|Pt. II||The Entertainment Economy Online||113|
|6||The Unprinted Word||115|
|7||Like Music to My Hard Drive||145|
|8||"Surrender or Die You Foolish Mortals!"||179|
|9||The Wheel of Misfortune||211|
|10||Pornography for Everyone||237|
|11||The End of Privacy and Fetish Desire Online||267|
Posted October 18, 2002
Breathtaking in scope, this book is the best analysis of the dot-com disaster that wiped out more the $1.7 TRILLION in stock market wealth. Moving seamlessly through the entire bubble, Nevaer explains why classical economics anticipated -- and how it anticipated -- the overwhelming debacle that ensued. A must read for anyone who has wondered how and why it all happened!Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.