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:
“Whoever has a keen eye for profits, is blind in relation to his craft.”
—Sophocles (497–406/5 B.C.)
“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)
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)