The Visible Hand: Money, Markets, and Media Evolution

Abstract

While the precise future evolution of the Internet remains uncertain, the historical development of other media, e.g., magazines in the twentieth century and broadcasting since World War II, may offer useful parallels. It is argued that significant analogous developments in the Internet's future are likely to include pervasive commercialization, niche-building and fractionation, less governmental regulation and oversight, and considerable economic concentration.