Why the Semantic Web will fail

You might wish to read this blog post, opining that the semantic web cannot succeed because of the coordination costs between enterprises. Coordination costs (also called transaction costs) can indeed become significant and lead to hierarchy, as the economist Oliver Williamson famously argued in his book Markets and Hierarchies. However, it need not be that way. Incentives to cooperate are large and can lead to standards, which reduce transaction costs and lead to markets. This could be an interesting student project ...