Production and Economic Relations on the Internet: Another Level of Development of Economic Science

Abstract

Limits of defining the notion “Internet economy” have been obscure for a long time, bereaving the interested people of the possibility to form a clear idea on its as of a specific direction of modern economic theory. A lot of studies of modern authors are devoted to the sense and specifics of Internet economy—their results are publishes in peer-reviewed international journals and books. Some authors define Internet economy as a completely new type of economic system that possesses unique (revolutionary) specific characteristics. Others think that Internet economy is a new stage of evolution of economic systems that follows post-industrial economy (or knowledge economy that is sometimes distinguished as a latter system). Other scholars state that Internet economy is just a concept and new possibility that appeared with emergence and distribution of Internet-technologies and that is not yet realized in any country of the world and will not be reflected in the real world anytime soon. Especially peculiar features of Internet economy that stimulate such metamorphoses include: intense use of the systems of electronic payments, low level of constant expenses, Internet economy’s founding on the law of increasing feedback, capability to provide opportunities for creative expression of a personality within personality’s functioning, etc. Internet environment, as a core of functioning of Internet economy, influences directly and indirectly the whole totality of landmarks of online business activities, among which the most important ones are commerce, marketing, stock markets, government, insurance, consulting, mass media, investing, banking, education, tourism, hosting, money, providing, freelance, logistics, etc.