This paper challenges this view on two grounds. In the first place, we observe that the changes in information technology have rather ambiguous effects on the organisation of the economy and its property right structure. In the second place, we observe that, because of these ambiguities, it is also important to consider the opposite direction of causality that runs from property rights to the types of information technologies that are applied. I am very grateful for their comments to the participants to the meetings. I received useful comments also from Geoff Hodgson, Nishibe Makoto and Nobuharu Yokokawa.
Usual caveats apply.