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The changing trends of information technology and its compatibility with the economy

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  1. Introduction
  2. A peek into history
  3. Indirect distribution of ownership
  4. Direct distribution of the ownership
  5. Impact of technology on the world of encyclopedias
  6. Outsourcing the ownership of strategic decision to the public
  7. Different perceptions on technology in the past and the present
  8. Conclusion
  9. References

This case study looks at one of the most commonly discussed questions in the world of information technology and economics. Is the economy and Information Technology changing at the same pace and which one is influencing the other one to change? Another core aspect of this case study is looking at the change in the ownership of information influencing the global markets and how technology is responsible for the shift in trend. There is also a small scenario focusing on the question; how much interested is public in contributing to help science and are they really equipped to help? Few of the interesting cases of major IT players in the market which rose controversial, debatable and interesting questions are slated down in this case study. And the main question this case study revolves around is; is the economy flexible enough to make room for the changes in Information technology to accommodate it?

[...] Different perceptions on technology in past and present What would have been the reaction of highly skilled technicians and engineers at the end of previous decade if they were asked to create a storage system with most sophisticated requirements such as: Storage capacity of over terabytes Having the most complicated security system which virtually could be indisputable. With virtually zero downtime. Would be accessible to around millions of users. They might have probably said that it is technically possible but would have the consequences of higher cost and time investment. [...]

[...] Britannica is well known for its traditional style of encyclopedia and on the other hand Wikipedia is completely different when it comes to the contribution of information. In Britannica the contribution is owned by full time professionals hired by the company, in Wikipedia it is an open source and Wikipedia has very high recorded numbers of changes to the articles online. One of the points to notice is that an encyclopedia which is much younger than a traditional and well established one, which does not even have a defined ownership of contribution to the articles, is head on with a much older and well established encyclopedia. [...]

[...] States and it was found by James Gordon Bennett in the year 1835 The initial cost of investment was 500 dollars which is equivalent to 10,400 dollars in terms of 2005 dollar value Within five years the initial cost of investment for the similar kind of mass circulation news papers went up to 212,000 dollars and by 1850 the cost went up to 2.38 million dollars in terms of 2005 dollar value The term ?knowledge economy' or ?information economy' is often overlapped with the term ?post-industrial economy' However the above scenario in a stark way demonstrates that even though the term did not exist before the industrial revolution, information economy in a way was prevailing during early 17th century. [...]

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