Relation To Economics
Eventually, Information and Communication Technology—computers, computerized machinery, fiber optics, communication satellites, Internet, and other ICT tools—became a significant part of the economy. Microcomputers were developed and many business and industries were greatly changed by ICT.
Nicholas Negroponte captured the essence of these changes in his 1995 book, Being Digital. His book discusses similarities and differences between products made of atoms and products made of bits. In essence, one can very cheaply and quickly make a copy of a product made of bits, and ship it across the country or around the world both quickly and at very low cost.
Read more about this topic: Information Age
Famous quotes containing the words relation to, relation and/or economics:
“Much poetry seems to be aware of its situation in time and of its relation to the metronome, the clock, and the calendar. ... The season or month is there to be felt; the day is there to be seized. Poems beginning “When” are much more numerous than those beginning “Where” of “If.” As the meter is running, the recurrent message tapped out by the passing of measured time is mortality.”
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An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)