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Antitrust law

2018

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Full-Text Articles in Law

The Myth Of Free, John M. Newman Jan 2018

The Myth Of Free, John M. Newman

Articles

Myths matter. This Article is the first to confront a powerful myth that pervades modern economic, technological, and legal discourse: the Myth of Free. The prevailing view is that consumers capture massive welfare surplus from a flood of innovative new products that are offered free of charge. Economists, legal scholars, and industry stakeholders created an origin story-a myth-to explain how these products became "Free."

But that orthodox origin story is fatally flawed. This Article formalizes, then debunks, the Myth of Free and its underlying assumptions. The Myth is riddled with internal inconsistencies, logical errors, and factual. inaccuracies. In their place ...