Re-Thinking the Network Economy: The True Forces That Drive the Digital Marketplace

Book Description

Once upon a time, it was widely thought that Internet commerce could exist apart from traditional business strategy, and that all the known financial models previously relied on could be disregarded.

What has become eminently apparent since the dot-com collapse is that standard economic theories apply to Internet business just as much as they do to any other enterprise. Many dot-coms have failed, but e-commerce isn't going away, and business leaders need to understand what went wrong in order to dominate in the real new economy. Rethinking the Network Economy examines exactly where, how, and why so many e-commerce firms went wrong, and how, utilizing traditional economic concepts, businesses can build the foundation for success in the future. The book analyzes issues such as:

* How tried-and-true formulas such as network effects, first-mover-wins, and supply-and-demand relate to e-businesses * Why companies counting on locking in consumers will need to rethink their strategies * When selling products over the Internet makes sense (and when it doesn't) * The dangers of comparing profits of brick-and-mortar firms with Internet firms

Customer Reviews:

Great theory, lousy presentation.......2003-10-01

I found much of this content to be very interesting and intelligent reading. Unfortunatly, I found Stan Liebowitz to be a pompus author who I was not nearly as impressed with as he seems to be with himself. He strikes me as the type who speaks to hear the sound of his own voice, and writes in much the same style. Many of the examples he used were innaccurate and were out of date, even when this book was published in 2002. It doesn't change the theories that are presented, but it sure makes reading this book unpleasent. Hopefully in future editions, Mr. Liebowitz will write this more like an academic journal and keep some of the first person references and broad generalizations out. People who buy cars on impulse have a "personality disorder"? I'm not a psychiatrist, but that seems very broad and unfounded. If you make a statement like this, you should clarify it or back it up with evidence. "....as I write this book", "...as I discuss below", "I have to admit....". Get over yourself. First person references have their place, and are used in the appropriate context many places within this book, but examples like the above show up on almost every page. It elevates the book to a level of arrogance that I find difficult to ignore while reading.

The Old Rules Remain Relevant.......2003-04-29

The internet offers incredible opportunities, provided businesses and their advisors do not lose sight of the traditional, fundamental concepts of commerce and economics.

The old rules still apply is the message of author Stan Liebowitz, economist and professor of managerial economics at the University of Texas at Dallas. The Internet creates value by lowering the costs of information transmission. Internet boosters went wrong when they sought to re-write the foundational laws of economics practiced by their bricks-and-mortar competitors. The impact of economies of scale depends on the industry, not on whether the company is internet-based or not.

The author also debunks three other "new" economy myths:
* The first mover advantage. Many internet companies mistakenly rushed to market with inferior products and services - and paid the ultimate price.
* Not everything can be sold on the Internet.
* Customer service still counts.

Liebowitz argues network effects, economies of scale; instant scalability and winner-take-all strategies provide advantages and disadvantages to the consumer. To know which products are likely to succeed on the Internet, the business person must consider:
* Size and bulk of the product relative to its value.
* Immediate gratification factor.
* Perishable items are not meant to be shipped over long distances.
* Some products need to be experienced.

This well-written, often witty book is the first I have come across that seeks to salvage lesions from what is commonly thought of as the "Internet Bubble." The impact of the Internet on our society is not to be trivialized. Information is now available in abundance. Discovering the lessons the media's boosters ignored, Liebowitz argues, if one seeks to learn what the media's "boosters" ignored to their peril, will benefit the reader.

Why the New Economy Is Old Hat.......2002-12-11

"Re-thinking the Network Economy" is an almost deceptively simple book, and that is all to the good for readers. Stan Liebowitz is a highly skilled economist with the ability to make his professional work accessible to interested laymen. Even more interesting to me, as a small businessman, is his intuitive grasp of the entrepreneurial process. His work just has a natural fit to the business world I know, and that is rare among academics, in my experience.

Though some of his humor can make a businessman wince at times, say his: "And of course, once computers are taught to bend the truth, they can replace salesmen of all sorts".

I once observed a young American woman, on a sunny July day in 1974, practicing her college Italian in one those street bazaars in Florence. I think it must have been written in some Intelligent Woman's Guide to Tourism in Cute Mediterranean Countries, that haggling was expected. When the woman responded to a merchant's price quote with a lower offer, he said in perfect English: "Look lady, it's hot, I'm hungry. If you insist on haggling, come back after lunch, but you're going to pay the price I just gave you anyhow."

She bought the dress, but you can find the reason for the merchant's attitude in chapter 4 of this book.

Also, I'm old enough to have been attended to, as a child, by a doctor who made house calls. The reasons why doctors no longer do so are to be found in Liebowitz's explanations of the efficiencies of supermarket shopping: Customers prefer to substitute their uncompensated time for the paid time that delivered groceries would necessarily entail.

So, why did so many smart people lose billions of dollars trying to make viable businesses out of delivering ice cream, chicken, and orange juice? Liebowitz hazards a few guesses, not all of which are going to sit well with some of his colleagues who gave advice that may have inadvertently encouraged such nonsense. Those of us with first-hand experience of how expensive it is to operate trucks and pay their drivers, who were scratching our heads watching refrigerated trucks drive through our neighborhoods, wondering how this could possibly be a cost effective way for consumers to shop, can have a lot of fun reading about it though.

The penultimate chapter, "Copyright and the Internet" has some, perhaps, counterintuitive arguments to make about digital reproduction and transmission of copyright materials. Including a novel explanation (to me) of how charging libraries for photocopying articles from scholarly journals actually increased the importance of those journals to scholars. This seems to me a major lesson to be learned in the current contentious copyright debates.

In short, Re-Thinking the Network Economy, packs a lot of useful information into its 224 pages. It's erudite, witty, and might have saved the New Economy, and its investors, tens (and maybe hundreds) of billions of dollars had it been published even five years earlier.

Back Cover Blurbs.......2002-09-28

Back Cover Blurbs:
Absolutely the best book I've read on e-commerce. Liebowitz looks at all the claims made for how "the Internet changes everything" and shows, persuasively, that it changes only a few things. If you want to know how to integrate the Internet into your business or how to judge the future success of Internet-based firms, or if you just want a master economist's understanding of the Internet's impact on the economy, Re-Thinking the Network Economy is the book for you. --David R. Henderson, author of The Joy of Freedom: An Economist's Odyssey, former columnist, Red Herring.

Stan Liebowitz's book brings a breath of fresh air to popular Internet debates. This lively and informative discussion exposes many of the Internet-related myths about network externalities, technology lock-in, and first-mover advantage. Managers would do well to understand his point that tried-and-true business strategies continue to apply-Daniel F. Spulber, Elinor Hobbs Distinguished Professor, Kellogg School of Management, Northwestern University.

"Prof. Liebowitz's analysis is sharp, reflecting an impressive combination of economic theory, history, and just the right amount of geekiness. Whether you are a businessperson plotting your next move or an individual simply curious about why the dot com bust happened, buy this book. The Internet will still be important. Professor Liebowitz tells us why." Sonia Arrison, Director, Center for Technology Studies, Pacific Research Institute

In Rethinking the Networked Economy, Stan Liebowitz dissects the faulty business case that helped fuel the Internet hysteria. The autopsy yields important insights. Liebowitz explains why some businesses suit the Internet economy and some don't, why some industries are winner-take-all contests but most aren't, and why a few industries offer first-mover advantages but most don't. The result is handbook for e-commerce that is grounded in simple but powerful economic reasoning that is fully explained within, and supported by an abundance of real world evidence.-Stephen E. Margolis, Chairman, NC State U Economics.

September 26 Issue of the Economist.......2002-09-28

From Economic Focus Column:
IN THE late 1990s, firms bet billions of dollars on a theory that turned out to be wrong. It said that in e-commerce, what mattered most was being first. Don't worry about being best, if that slows you down. Sell your product at a loss, give it away, pay people to take it: just build your base of customers fast. Why? Because the weird economics of the Internet-network effects, enhanced economies of scale and lock-in-gave a decisive advantage to first-movers. Now that something approaching 100% of the Internet economy's first-movers have gone bust, this theory looks less plausible. Yet the logic once seemed persuasive. Where exactly did Internet economics go wrong?

A new book by Stan Liebowitz, a professor of economics at the University of Texas at Dallas, and a long-time sceptic of the view that the Internet changes all the rules, gives the most thorough answer so far.

"Re-Thinking the Network Economy" explains what the Internet did change and what it did not, so far as economics is concerned-and it does so in a witty and accessible way. Dr. Liebowitz covers a lot of issues: the exaggerated advantages of Internet retailing over conventional retailing; the false claim that the Internet's lower costs would give Internet firms bigger profits; the inadequacies of the broadcast -television model of advertising revenues; the poorly understood questions of copyright and digital-rights management.

It is the best book to date on the fallacies of the e -commerce craze.

Book Description

Advances in Group Processes publishes theoretical, review, and empirically-based papers on group phenomena. The series adopts a broad conception of 'group processes' consistent with prevailing ones in the social psychological literature. In addition to topics such as status processes, group structure, and decision making, the series considers work on interpersonal behavior in dyads (i.e. the smallest group). Contributors to the series include not only sociologists but also scholars from other disciplines, such as psychology and organizational behavior.

Book Description

Farm Life tells the story of Chippewa Valley dairying and ties it to larger national and historical issues, bringing this history into the new millenium. Highly illustrated with compelling photos, Farm Life lets the voices of farm families come through in hundreds of direct quotations.

Distributed for the Chippewa Valley Museum, Eau Claire, Wisconsin

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The Drake Manuscript in the Pierpont Morgan Library: Histoire Naturelle Des Indes
Patrick (foreword by) O'Brian
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Histoire Naturelle Des Indes: The Drake Manuscript in the Pierpont Morgan Library
Patrick (FWD) O'Brian
Manufacturer: Diane Pub Co
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Histoire Naturelle Des Indes: The Drake Manuscript in the Pierpont Morgan Library
Patrick (Foreword By) O'Brian
Manufacturer: W.W. Norton
ProductGroup: Book
Binding: Hardcover
ASIN: B000IMPWFS

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The Drake Manuscript in the Pierpont Morgan Library: Histoire Naturelle des Indes.(Review)(Brief Article): An article from: The Geographical Journal
Norman J.W. Thrower
Manufacturer: Royal Geographical Society
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Release Date: 2005-07-28

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This digital document is an article from The Geographical Journal, published by Royal Geographical Society on July 1, 1998. The length of the article is 506 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: The Drake Manuscript in the Pierpont Morgan Library: Histoire Naturelle des Indes.(Review)(Brief Article)
Author: Norman J.W. Thrower
Publication: The Geographical Journal (Refereed)
Date: July 1, 1998
Publisher: Royal Geographical Society
Volume: 164 Issue: 2 Page: 228

Article Type: Book Review, Brief Article

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The Drake Manuscript in the Pierpont Morgan Library : Histoire Naturelle des Indes

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The Drake Manuscript in the Pierpont Morgan Library : Histoire Naturelle des Indes
Sir Francis Drake
Manufacturer: Andre Deutsch
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Histoire Naturelle Des Indes: The Drake Manuscript in the Pierpont Morgan Library

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Histoire Naturelle Des Indes: The Drake Manuscript in the Pierpont Morgan Library

Manufacturer: W. W. Norton & Company
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Book Description

Fifty-five of the world's great gold courses--all pictured in full color.

Book Description

Have fun and learn "real" American conversational English!

Our books contain the most common slang and idioms used every day by Americans. Look at this example:

English taught in schools: "I dislike this. It is very difficult."

Real American English: "What a pain!"

Both of them mean the same thing, but "Real English" is the way Americans speak. With our books, you will learn American English conversation using slang and idioms naturally through dialogues, pictures, quizzes, games, etc. You'll be talking like a native "in no time" (very quickly)!

This book is full of slang and idioms used every day by Americans - and it is very easy to use. You will be more confidant and have fun using English.

This book includes expressions dealing with: Parties, Shopping, Movies, the Airport, Restaurants, Health, and more.

See why so many ESL students around the world love The Slangman Guide to Street Speak series!

This book was written by American native and slang expert Slangman David Burke, author of more than 24 books on slang and idioms.

There are no "dirty" or impolite expressions in this book. For the best results, purchase the audio CDs or cassettes.

Customer Reviews:

Popular and practical.......2007-05-22

This series fills a vital niche in the ESL world where too many teachers and professors continue to act as if English were a static language stuck in the past. I've had several young college students, often in IEP programs, approach me for advice on how to learn "real" slang and modern idioms. The Slangman Guide works - although it will not help students on TOEFL exams or academic essays.
Yet we, and I speak as an ESL instructor at a private university, need to recognize the diverse desires and needs of our students. While I would never use this book as a textbook for a wide variety of reasons, the casual and hip tone encourages, even cajoles, many young students into studying more and living better inside the English language. Better for the 15-25 year old crowd than the older adult population, David Burke deserves far more respect than he has been given in the ESL world.
Good job!

Very Good.......2006-03-21

It's a very good book.It teach you not only the words but it teach you how to use words. You can learn the correct grammar, the accent and most important the context.
Advice: Buy also the CDs( not included with the book) or you have to order again !!!!!!

Are you tired of speaking in childish English?!! .......2004-08-25

I would like thank Slangman David Burke for his wonderful books. Actually, this series helped me a lot to understand American culture and daily conversations , especially with its comical pictures.May be the main attracting feature of this book which also has differentiated it from other similar idiom books is its nice division of slangs into some daily topics with pictorial format.
Now when I listen to radio or watch TV, I feel like hearing something new I couldn't have heard before.

Ali
Montreal,Canada

This book is WAY COOL!.......2004-08-16

I recommend this book "BIG TIME"!! It's the most useful book I have found on American slang and idioms. I have spent a lot of money of other books to learn how Americans REALLY speak (what they teach us in school is not the real language). They are more like dictionaries, and use old terms that Americans don't use any more. David Burke, who calls himself "Slangman," has created a series of books that are really great for ESL students who are
trying to learn American English. I showed Street Speak 1 to an American friend and he said that the words in the books are very popular. In the book, Slangman gives many examples of the everyday slang words and expressions using dialogues in context. One of the BEST things about it is that he also shows you the dialogue on the next page rewritten as it would actually be spoken by a native!! This is so important because American pronunciation is very strange to non-native speakers. For example, instead of "We are going to have a blast at the party," the rewritten dialogue shows "W'r gonna have a blast 'it the pardy!" The audio CD follows the books exactly which I thought was really important. It's the only way to speak like a native. The exercises in the book were also very useful. It only takes about an hour to finish a chapter and after doing the exercises in the book, you really remember everything. The exercises were really fun too and the illustrations are very funny. They help you to remember the words. It's just a really fun book. I'm "HAVING A BLAST!"

A wonderful book for learning current American slang!.......2000-04-27

I purchased this book so that I could help one of my high-intermediate students understand American slang. I have been nothing but pleased with this book and have used it with several of my students. THE GOOD: Each chapter has about 10 new slang words (or phrases) to really concentrate on. The pictures are hilarious and help the students to relax and have fun as they get started on each chapter. After introducing the words, the book then incorporates them into a delightful dialogue. Each chapter also has a section entitled "A closer look at 'real speak'." This is my favorite feature and helps students to understand how American slang is really produced. For example, it explains when a "T" is really pronounced like a "D" (or flapped). The rest of the chapter then has TONS of practice for the students in all four skills - reading, writing, listening and speaking. THE BAD: There really isn't too much to say here. If anything I would say that the book doesn't cover a lot of slang words. There are only 10 chapters, so students really only learn somewhere around 100 new words and phrases, but they really learn those 100! The only other bad thing that I have noticed is that my more advanced students seem to pick up the slang more quickly and then find the remaining practice to be redundant. But hey, it could be worse! OVERALL: A wonderful book of current and useful American slang that I would recommend to anyone - teacher, tutor or student! I would suggest that you buy the cassette tapes if you are going to use this book as a self-study guide.

Book Description

A plain-English guide to teaching phonics. Every parent can teach reading—no experts need apply!

Too many parents watch their children struggle with early reading skills—and don't know how to help. Phonics programs are too often complicated, overpriced, gimmicky, and filled with obscure educationalese. The Ordinary Parent's Guide to Teaching Reading cuts through the confusion, giving parents a simple, direct, scripted guide to teaching reading—from short vowels through supercalifragilisticexpialidocious. This one book supplies parents with all the tools they need.

Over the years of her teaching career, Jessie Wise has seen good reading instruction fall prey to trendy philosophies and political infighting. Now she has teamed with dynamic coauthor Sara Buffington to supply parents with a clear, direct phonics program—a program that gives them the know-how and confidence to take matters into their own hands.

Customer Reviews:

Depends on what you are looking for..........2007-10-04

If you are looking for a book to help you with a basic outline of all the phonics rules your child will need to know then this is a great resource. It works great as a reference guide and is well organized.

If, on the other hand, you are looking for an engaging curriculum or one where you don't have to do much extra work, then I would suggest you look elsewhere.

The author has intended the book to be easy to use (which it is) with little to no preparation needed (and it isn't), but it will be the rare child whose attention can be kept by this curriculum without other added games and exercises. There are a few games here and there, but it is definitely a rarity in this book.

My 3.5 year old daughter was really interested in learning to read and so I bought this book to help me teach her. We skipped the lessons on letter sounds and started in with the blending lessons. She went along with it for a while, but eventually she became very bored and didn't want to do it anymore. She did, however, still want to learn to read and was reading everything she could at her level. Luckily, I feel confident in following her lead and teaching in a relaxed, natural way (Thanks Ruth Beechick!) so this book has been a valuable tool in helping me to see what she knows and what she still needs to learn. We've played some phonics games and I've made my own magnets with words that she's learning so that we can "write" sentences to each other on the refrigerator. It's working out great!

I strongly believe that each child has his/her own timetable of when they are ready to learn to read. It is usually sometime between 3 and 8 years of age. Pushing a child to learn to read before his/her brain is ready for it will effectively ruin their love for reading and learning. Watch for signs that your child is ready and simply follow his/her lead. If you are spending time with your child daily you'll know when to start moving forward and at what pace.

Last note - for additional ideas for a reading curriculum try Reading Reflex, Phonics Pathways, or Teach Your Child to Read in 100 Easy Lessons. Or just follow your child's lead and answer their questions when they ask!

PLEASED.......2007-08-24

I started this book right after 100 Easy Lessons by Siegfried(loved it) and followed up with Parent's along with Spelling Workout A.

Upon completing 100 Easy Lessons she was able to read most 1/2 easy readers but we needed to fill the gap with spelling rules and just plain old practice.

This combination has given my 6 year old daughter such confidence. She is picking up books and tackling them head on because she has the tools to do so. We are on Lesson 155 and half way through Spelling Workout A and she loves it.

I think the spelling program along with the reading fuels the learning process.

I absolutely love this book because it is repetitive enough to build confidence and it weaves review throughout the book so there is a continuous strand of practice all along the way.

Works for my daughter.......2007-08-23

This book is great; I wish I'd had it when my daughter was in kindergarten, rather than after. There are some parts that are probably over her head, but seeing it now and being introduced to it will make it that much easier for her later. My daughter is now 6 and starting first grade. We do a lesson or 2 a day and she is a very willing participant. I see great improvement in just the month we've been working with this book.

Simple and Effective .......2007-07-01

There are many positive things I could say about this book, such as, it was simple, straight forward, uncluttered and effective. The BEST thing I think I can say, though, is that it took my child from a non-reader to reading on a third grade level in just one year. IT WORKS!

Great tool to teach reading.......2007-04-04

At first glance the book looked very technical but after reading through it, I found it to be very useful and have started to teach my 4 year old and he caught on amazingly quick. I highly recommend this book either to supplement your childs education or for homeschooling.

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