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From the beginning of 15th century, the transaction and global trade between the countries and continents have gradually formed and developed (The Political System, n.d.). Nevertheless, a new concept that happened in recent years is that those developments and the advent of the Internet through the achievements of science and technology are completely changing the face of the world in all aspects. Owing to the Internet, the world becomes globalized (Friedman, 2005). However, it cannot be denied that globalization in the Internet has both advantages and disadvantages. This essay will analyze the aspects of the globalized Internet in terms of economy. It will look at the positive and negative sides of the Internet applications based on the history of the Internet Web browsers, from the initiative of Netscape to the competition between Netscape and Microsoft’s Internet Explorer on the Internet business market. This essay includes the arguments on those issues to conclude that there are more positive effects which play an important role in the worldwide economy nowadays.