Beginning of Essay
As use of the Internet has grown by leaps and bounds, it is clear that electronic commerce will proliferate rapidly in the years ahead. The number of Internet domains in the United States is more than 1.3 million. Most major companies now have Web sites, if only t ....

Middle of Essay
.... will change existing business practices, market structures, and the social habits of the workplace, marketplace, and home. Can we discern how electronic commerce adds value to conventional marketplace transactions, making the Internet a preferred venue for business? Will markets of the future be substantially more efficient, to the extent of being "friction-free?" Or will a new regime of dominant players arise to eliminate competitors and create "winner-take-all" marketplaces? As electronic commerce spreads internationally, an equally profound issue is the fate of national sovereignty. Economic globalization, particularly of capital markets, is a ....