The internet enables much commerce that does not happen on the internet. It also tends to move what used to be commerce into cheaper or non-commercial transac

The internet enables much commerce that does not happen on the internet. It also tends to move what used to be commerce into cheaper or non-commercial transactions that don't show up in GDP accounts (the news business, the encyclopedia business, the music & movie business, much of the software business). If suddenly tomorrow there was no internet it would be a major calamity.