The Internet and its impact on Market Structure - Managerial Economics Essay

The Internet and its impact on Market Structure - Managerial Economics - Essay Example Monopoly is a market that no one desires to be in. In developed countries there are laws against monopoly. It’s bad enough for consumers. Whenever there are even close resemblances of monopolies emerge, like Microsoft in the global operating systems market, people have cried foul. Even big corporations shy away from becoming a monopoly because it attracts too much regulation from the authorities and negative publicity from the public. So it’s unlikely that the typical monopoly can ever exist on a global scale. For local monopolies Internet has definitely made life difficult. With internet in place, entry barriers are so low that as soon as a company becomes successful with a new product or concept idea there would be new start-ups offering substitute products. So it would be safe to conclude that the Internet is anti-monopoly. The world markets tend to favor oligopolies. Internet has been one for the key components that changed quite a few market structures in several industries. Internet, for instance, is a substitute for all media. The media industry has been revolutionized with the advent of Internet. It has reduced the barriers of entry to such a low level that some industries will never be the same. Perfect oligopolies exist all over the world in several industries. In liberalized and privatized economies even public utilities are oligopolies. High level of globalization and the Internet have helped oligopolies to form and exist. â€Å"But all the past revolutions have not ended up in a totally free market, but rather have started a new cycle of oligopolies.† (The Internet and the copyright oligopolies 2003). The pattern that one could see is that when a new company becomes successful with a new product or concept it is merged or acquired by big companies and this usually pulls the market away from monopolies and from prefect competition. This is a market structure that has a large

Outline the main features of the current legal regime for the Essay

Outline the main features of the current legal regime for the exploitation of the International Seabed - Essay Example The United Nations’ resolve was timely to intervene in terms of internationally acceptable legal framework, to assist states to achieve an equitable access to the resources bestowed to these uncertain areas. This study attempts to analyse the features of the current legal regime that touches on the international sea exploitation. It explores internationally set regulations and conventions attempting to introduce control and order over the resources. In the first section, origin of conventions and bodies associated with the control of international seabed exploitation is visited. Perhaps it is appropriate to lay the foundation to the current regulatory framework, by briefly mentioning some of the earliest conventions aimed at introducing order at the international seabed. In line with this, the discourse adopts a chronological order for the conventions, it terms of the date of formulation. The second section explores features of some of the regulations thereon. Current legal regime concerning international seabed could have obtained inspirations from a few international regulations formed several decades before. Perhaps a major development in the 17th century towards the same spirit was the Freedom of the Sea Concept which was generated in the context of orderliness in high seas.1 Later, it was common for such regulations such as the Copenhagen Convention of 1857, whose limited scope of intentions was to introduce order in the handling of access of the Baltic Sea. There was territorial uncertainty in the preceding year, compromising shipping routes, which was resolved by a financial undertaking for Sound and Belt dues handing it over to Denmark.2 The Hague Conference of 1930 was convened with an intention of defining regulations to govern international waters control.3 However, the initial ambition by the LON for creation of an international seabed