THE VISIBLE HAND - MONEY, MARKETS, AND MEDIA EVOLUTION

While the precise future evolution of the Internet remains uncertain, the historical development of other media, e.g., magazines in the twen tieth century and broadcasting since World War II, may offer useful pa rallels. It is argued that significant analogous developments in the I nternet's future are likely to include pervasive commercialization, ni che-building and fractionation, less governmental regulation and overs ight, and considerable economic concentration.