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Peter Lovelock & John Ure

In: Handbook of New Media: Social Shaping and Consequences of ICTs

Chapter 21: The New Economy: Internet Telecommunications and Electronic Commerce?

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The New Economy: Internet Telecommunications and Electronic Commerce?
The new economy: Internet telecommunications and electronic commerce?
Peter LovelockJohn Ure

During the year when this chapter was written, the first phase, or lurch, of the Internet economy had played itself out with the bursting of the dot.com bubble. Claims, hardly theories, of a ‘new economy’ backed by a ‘new economics’ or ‘silicon economics’ came thick and fast during this first phase, driven in the popular imagination by the very ‘new media’ that were part and parcel of the phenomenon. It was also promoted for all it was worth by the IT companies and telecom equipment manufacturers who stood to gain the most from the boom. Suddenly the Internet was fashionable, even in the literal sense as IT ...

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