The Informational Economy: Knowledge and Cyberspace

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People started getting together and exploring the idea that there was going to be a revolution in technology which was going to change society so drastically (Wozniak 1986 cited in Heap, Thomas et al 1995).

Transcript of The Informational Economy: Knowledge and Cyberspace

People started getting together and exploring the idea that there was going to be a revolution in technology which

was going to change society so drastically (Wozniak 1986 cited in

Heap, Thomas et al 1995).

Individuals perceive such revolution from acquisition of personal computers, direct broadcasting by satellite, automated work or in the potential for push-button democracy. While differing over details, though many seem to agree that bringing together computing with telecommunications spells the start of a new age.

Information technology is seen to strengthen a great variety of communities of interest. Improved technology allows formation of many new, smaller communities of interest, and also allows existing, larger communities of interest power to attain a transnational character.

The high motivation of common interests, combined with ease of communication, allows such communities of interest and existing larger communities of interest the motivation to be extremely flexible and productive, thereby contributing more to scientific, technological and artistic progress in a greater number of areas than formal or governmental organisations do.

New electronic data bases provide selective access to the specific information that people need. Information technologies increasingly support service industries and contribute to the improvement of the quality of service. These technologies create enormous job opportunities in the area of software development and production. Information technologies make life more convenient and efficient by permitting people to oppose manual labour by promoting security and by providing everyday conveniences.

However, problems which have been and will be created by information technologies are multi-fold. Significant differences already exist in the amount of information available in different regions, and these differences could increase.

In information-rich regions, the information supply is much larger than could be possibly consumed, yet in these regions, people have difficulty in obtaining precisely the information they need.

Some governments in the information-poor regions may be weary of new information and reluctant to promote certain types of communities of interest, despite the fact that remote access to information-rich regions can be made by means of low-cost terminals.

With the emergence of the internet as a communication and social interaction tool was initially met with great hopes for revitalising the flattering sense of community. However, the disadvantage to internet interaction and “virtual” social connections between people who may never meet in person becomes a social liability.

“Cyberspace” is termed as a virtual reality, one regarded to designate the “substance” of the three-dimensional space protected by the computer as bits of information, rather than a physical territory.

Cyberspace is known to bring possibilities of connectivity and openness. It is a force in its own right, the uncanny autonomy of which threatens the sovereignty of the human race if not used with caution.