Internet Economy And The Challenge On The Traditional Economic Theory

Since 1990s internet economy has developed quickly and become the main power for economy growth. Because of its special features, the internet economy has taken a great and deep influence on the different aspects of social economy.It's a good opportunity for China to catch up the developed countries. It will accelerate the pace of economic development of our country, propel the process of rationalization of the economic structure;As for economic theory, the emergency of internet economy will provide abundant practice for economic theory and also help government to make more rational and efficient regulation on macro economy. So it's definitely necessary and important to make a wide and deep research on internet economy.But when it comes to the current research on the internet economy made in China and outside of China, the research is far away from perfection. First, the analysis mostly limits to technological phase studying the relevant questions of some branch industry, not from the point of the whole. Second, the research on the influence of the internet economy on traditional economic theory is dispersed and superficial, lacking comprehensive and general theory.This article makes research on the base of previous achievement, tries to make a deep study on the influence and challenge the internet economy brought to the traditional economic theory, testify the changes of economic theory brought by internet economy. Finally we reach to the conclusion that the development of internet economy is a challenge to traditional economic theory, helps the development of economic theory. Some premises and assumption of traditional economic theory have changed, so we have to make some change. The research point of some realms also need to be changed, to micro theory, the research of externality need to transfer from negative aspect to the positive, the main research of the theory of marginal benefit need to changed from the reduced theory to the incremental theory;the theory of demand curve has a great change. To the macro theory, the theory of Phlips curve has a change ,and we need to rebuild a new model to measure the economy. The theory of growth need a innovation.In the final chapter of this article, we make an outlook on the future of the relevant theory of internet economy and the improvement of economic theory's research methods. Chaos theory and Complexity theory will be introduced to research the internet economy. In the end ,this article makes a prospect of the related theory ofinternet economy mainly from technological side and theoretical side and gives some new standpoints.This article combines the theory and practice, takes the method of contrast analysis and empirical analysis to make a deep research and analysis on internet economy. It also summarizes the challenge of the internet economy on the traditional theory and how to further economic theory's development.