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:
“You must realize that I was suffering from love and I knew him as intimately as I knew my own image in a mirror. In other words, I knew him only in relation to myself.”
—Angela Carter (1940–1992)
“[Man’s] life consists in a relation with all things: stone, earth, trees, flowers, water, insects, fishes, birds, creatures, sun, rainbow, children, women, other men. But his greatest and final relation is with the sun.”
—D.H. (David Herbert)
“There is no such thing as a free lunch.”
—Anonymous.
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)