Related Terms
A number of terms in current use emphasize related but different aspects of the emerging global economic order. The Information Society intends to be the most encompassing in that an economy is a subset of a society. The Information Age is somewhat limiting, in that it refers to a 30-year period between the widespread use of computers and the knowledge economy, rather than an emerging economic order. The knowledge era is about the nature of the content, not the socioeconomic processes by which it will be traded. The computer revolution, and knowledge revolution refer to specific revolutionary transitions, rather than the end state towards which we are evolving. The Information Revolution relates with the well known terms agricultural revolution and industrial revolution.
The information economy and the knowledge economy emphasize the content or intellectual property that is being traded through an information market or knowledge market, respectively. Electronic commerce and electronic business emphasize the nature of transactions and running a business, respectively, using the Internet and World-Wide Web. The digital economy focuses on trading bits in cyberspace rather than atoms in physical space. The network economy stresses that businesses will work collectively in webs or as part of business ecosystems rather than as stand-alone units. Social networking refers to the process of collaboration on massive, global scales. The internet economy focuses on the nature of markets that are enabled by the Internet. Knowledge services and knowledge value put content into an economic context. Knowledge services integrates Knowledge management, within a Knowledge organization, that trades in a Knowledge market. In order for individuals to receive more knowledge, surveillance is used. This relates to the use of Drones as a tool in order to gather knowledge on other individuals.
Although seemingly synonymous, each term conveys more than nuances or slightly different views of the same thing. Each term represents one attribute of the likely nature of economic activity in the emerging post-industrial society. Alternatively, the new economic order will incorporate all of the above plus other attributes that have not yet fully emerged.
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