Online Competition and Offline Democracy

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Consumer Choice and Competition Law are devilishly heavy in terms of choice of literature, from the side of law as well as economics, and a collection of all books on the subject together can easily be used to create a specialised two floor (at least) library of its own. (which I would love, if I might add. :-))

The topic being so generic in phrase, it continues to evolve and grow as our own economy and society evolves and grows with every passing year, with the question of choice (and the use of Game Theory) continuously intriguing at every level of society and economy.

The next level of evolution of human society, after the invention of the modern internet (world wide web), has been its swift amoebic growth into the very fabric of our daily lives, and it is the consequence of this growth from a competition law perspective that Ariel Ezrachi and Maurice Stucke claim they look into and answer through their book Virtual Competition. They even go so far as to say in a blog post (and they may quite well be right) that the intertwining of A.I. and the internet into our daily lives has the ability to completely alter our thought process, including politically, and turn the definition of “Democracy” totally upside down.

Obviously, a self – confessed internet economy growth buff like me is more than eager to read the book (It’s available on Amazon India and not even very expensive, though the delivery charge sucks.) The Wall Street Journal already published a book review on it. And once I finish it, we should have one here as well. 🙂