Analysis of Chapter 14 of the Communication and the Transformation of Economics by Robert E. Babe

Charles states as his number one point that economics is really unpredictable. He uses the Coca-Cola Company as a fine example for this. That company starts of turning out to be loss and failure but within 10 years since it started it turned out to be very profitable. Charles also states that markets are extreme powerhouses over individual’s daily lives. Markets are also self-correcting because they use prices to allocate their resources. Individuals all work for their own self-interest so they can be better off in the society. One very good example the author provides is the Soviet’s socialist economy and how it failed because the bureaucracy controlled the economy, or basically he’s saying that

Imagine that you have decided to open a small ice cream stand on campus called "Ice-Campusades." You are very excited because you love ice cream (delicious!) and this is a fun way for you to apply your business and economics skills! Here is the first month's scenario--you order the same number (and the same variety) of ice creams each day from the ice cream suppliers, and your ice creams are always marked at $1.50 each. However, you notice that there are days when ice creams remain unsold but other days when there are not enough ice creams for the number of customers.

The internet has become a popular source used by society of a worldwide computer network that provides a variety of information and communication facilities allowing individuals to communicate with one another easily. The internet it self has brought people together but has changed the way people interact with each other, created isolation, some addiction and being unsafe. Nowadays, anything can be shared to the wide world through any device that is able to connect to the internet; where this can lead to what Charles Seife terms as “no privacy” in his article, “The Loneliness of the Interconnected.” According to Seife, the Internet’s vast interconnectivity made it possible for everyone to hear everyone else - and to be heard by everyone else.

He is a Canadian American who published a sociological work concerning the internet in 2011. His article that was published in the New Yorker was titled “The Information: How the Internet Gets Inside Us” where he explains the influences the internet has had on modern society. He tackles the issue of how the mass of information has altered the way people interact with each other. In this manner he has proposed 3 kinds of people who view the new digital age: Never-Better who believe we are closer to a utopia, Better-Nevers who believe that the digital age was a mistake, and the Ever-Waser who believe that the debate is what makes the digital age so good. In this vein he recounts how this is similar to when books and other printed media first became accessible to the masses. This new printed media for the people was hailed as the new great thing to uplift people from the heap. But recounts that just as reformations could come from print, then so could counter reformations. Counter to the benefits Gopnik recounts articles where the new digital age is robbing us of our creativity, focus, and connection. But again Gopnik counters this claim by suggesting that others have foretold the downfall of society from whatever technological advancement was made and yet society still exists. As such the internet’s alterations and feelings are in the little bits of us that usually go unnoticed

Multiple identities have been increased by the creation of cyberspace communications according to "Cyberspace and Identity" by Sherry Turkle. Turkle uses four main points to establish this argument. Her first point is that online identity is a textual construction. Secondly she states that online identity is a consequence-free moratorium. Turkle's third point is online identity expands real identity. Finally, her last point states that online identity illustrates a cultural concept of multiplicity. I disagree with many aspects of her argument and I have found flaws in her argument. Technology is an area that does not stand still and consequently outpaced Turkle's argument.

The end of the Civil War brought a whole new era of economy, political control, and Presidential intervention. The economy emerged from its agriculturally based economy into a flourishing big business dominated world and eventually in 1929 came crashing down. I agree only partially with the quote " The Civil War saw the beginning of an 80-year decline of real individual economic opportunity; nonetheless, the vast majority of Americans continued to profess their belief in individualism as evidenced by the Presidents they elected. Thus, between 1865 and 1939, the majority of Americans accepted big business dominance and rejected all forms of government interference and regulation contrary to

In her call to action, The People’s Platform; Taking Back Power and Culture in the Digital Age, Astra Taylor addresses underlying social and economic forces of the internet and differential perspectives towards it. Taylor discusses the new internet in which content is king and, people are now the product, this is called Web 2.0. She discusses this topic from a couple viewpoints; those who would believe that the internet is truly the new people’s platform and that it is the golden age of sharing and collaboration, called the Techno-optimists. The counterparts of this interpretation of the internet are what she calls the Techno-Skeptics, who have a similar mindset in that of Nicholas Carr, an author about technology in the modern age, with the

Information technology has changed the context in which governments must operate. Individual citizens and groups now have the ability to quickly organize and contest or influence the direction and mode of governance. From 24/7 news to flash mobs to blogs to political tell-alls, the rapid flow of information demands rapid results from systems of governance. How has information technology compressed the ability of governments and organizations across the board to implement long-term strategic planning? How has information technology redefined sovereign and cultural borders? How can the government leverage information technology to “fight back”? What kinds of skills and resources are needed by both the people sending the message

In the end, while Lyon and Hafner give us an entertaining story regarding how the Internet was discovered, we are still left wondering about what effect the Internet is actually having. True, we see all of the hard work that occurred behind the scenes in the making of the Internet in this book, but now the question must be asked: where does the Internet take us? This is a very important question in the context of where technology takes our culture, and takes humanity in general. Indeed, every piece of technology has an effect on the people within the culture. There is, after all, certain political and social consequences to the progress in technology. In his essay "Do

Henry Hazlitt’s book, Economics in one lesson, brings to perspective numerous topics that are mainstream issues in the economy today. His book breaks down in detail specific concepts that have their effects on the economy. Hazlitt explains topics such as war and the expenses, the tariff system, and productivity and the minimum wage laws.

In his article, The Mediatisation of Society Theory, Hjarvard (2008) deduces that media simultaneously become an integrated part of society, not to mention the existence of new media like the Internet. In fact, this integration of Internet into our daily life has made us live in the digital age where information is shared in real time and in global context. Castells (2007) even argues that in this digital age, people are able to expand their local communication activities to

Throughout this essay I will be discussing how the digital age has transformed society in many ways. The digital age also known as the information age, is the evolution of technology in daily life and social organizations have led to the fact that the modernization of information and communication processes has become the driving force of social evolution.” This is a time period in which we live in now where Internet and email are available; this is an example of the digital age. The Information Age is the idea that access to and the control of information is the defining characteristic of this current era in human civilization.

Economist (traditional and non traditional) ponders the proper economical characterization and analysis of this era of information industries. The author, Robert E. Babe address several keys points through out the first four-chapters of this book. Evaluating money as a true measuring rod for economist to obtain information concerning value, the place for information in economics using commodities as signs or indicators in the market, also Interrelations between economic and communication studies.

This essay focuses on the impact that the interent has had on modern society. I will give a brief history of the internet, talking about its origins and the key developments that have occured up until now. Then look at how the internet has changed society so far, including how it has changed social interactions, e-commerce and jobs. Also discussing the advantages and disadvatages of the interent and if we are better of with the internet, how i think the internet will develop and finally drawing my own personal conclusion.

Time and progression are usually concepts that are found to work in unison, and this connection is profoundly present in the development of technology. Human advancements in the creation of life altering machinery has taken leaps and bounds in terms of how it has altered society, yet one has to consider the effects these developments have on already existing methods of a functioning civilization. One example of this phenomenon is the expansion of journalism from a closely knit field providing the news to an entirely open platform, via the internet, offering anyone the chance to spread information with previously unheard of haste. Attempting to impede the ever extending hand of change is an impossible task; however, it leads to an interesting argument about the impact of information sharing—particularly concerning journalism—now that there is such a readily available line of communication that can reach near anywhere in the world. As knowledge now resides a few button clicks away it brings about speculation considering integrity of the author and information that are presented, both of which seem to have been further diminished by the vast range of who can offer news in this modern digital age.