Conditions and Effects of the Evolving Electronic Economy on Labor

Through today's internet, we are able to utilize online shopping which drops the price of goods and promotes even greater competition by offering even more places to buy goods. This being similar to the decrease in prices and increase in goods during the Industrial Revolution. Another similarity to the Industrial Revolution is technology itself. Technology has been so mass produced that the prices have dropped significantly and now, nearly all “classes” of people have smartphones, similar to how workers during the Industrial Revolution could start to afford greater luxuries. Lastly the creation and elimination of jobs by technology parallels the factories of the Industrial Revolutions. Today the creation of computers is largely replacing the thinking and computing, as well as the completion of small tasks required by actual people in the workforce, but by the same token is opening up many more jobs in the technology field through repair,maintenance, and programming. Thus, like the Industrial Revolution where people traded skilled jobs for factory jobs, the job tradeoff in today's technological age seems fairly

They are well within reach of ‘closing the loop’ by making full use of their competitive advantages through effective information flows, physical flows and reducing monetary costs. 2. What risks does a retailer aiming for this level of responsiveness face? a. Threat of Duplicity3: Noticing the efficiency and effectiveness of the present operations and supply chain system, a lot of competitive players will try to replicate this system. However, in the case of 7-Eleven, it becomes extremely difficult to do so because the information system in the form of the Graphic order terminals for placing orders linked to the store computer, scanner terminals to scan deliveries from the distribution center, store computers that link to the ISDN network and the POS registers linked to the store computer cost huge sums of money. This along with the sophisticated system of combined distribution forms a reasonable barrier against the threat of new entrants. b. Relationship management: Maintaining solid relationships for retailers with the actors both upstream and downstream of the supply chain is essential like in the case of 7-Eleven stores. As can be seen from the case, none of these DCs carry any inventory but merely transfer inventory from supplier trucks to Seven-Eleven distribution trucks. These items are delivered from a total of 152 companies and 201 plants. The transportation is provided by Transfleet Ltd., for the exclusive use of Seven-Eleven

The world we live in today is much more technologically diverse than any other period of time throughout history. From this diversity sprouts a new type of economy, one that balances on the evolution of basic ideals that fluctuate depending on our advances in different fields. In the book, American Economy Since 1920: How It Worked, the author explains four recurring themes in business. One of those themes is the relentless of change. Throughout the course of history, whether it be due to extraordinary advances in technology or devastating economic downfalls, the world of business is always changing.

As the world economy and technology continue to change at a rapid rate, the costs of doing business inadvertently also

As technology continue to refine how products and services are delivered to consumers, competition among industry participants becomes more refined. Organizations that are able to keep up with changing technologies become leaders while those that are not fall behind. Mergers and acquisitions are increasing while causing small businesses to sell out or seek partnerships and cooperatives in order to remain competitive and relevant.

Free labor means freely given labor, in terms of being unwaged and voluntarily participating: all users of the Internet. Free labor fulfills the empty space, the Internet, with their cultural and technical work by building, modifying, and producing new information, ideas, and values. The Internet became the place in which knowledge and skills are congregated as free labor collectively engages in productive activities. However, since the new values created in Internet are originated within the capitalism, their new values are exploited by the capitalism. In this sense, free labor in the digital economy contributes to capitalist society as the producers of the commodities.

Electronic commerce has been there for a long time now, and it is a practice that is practiced by peoples from Germany, France, and the US on a daily basis. Since its inception around 40 years ago, e-commerce has continued to grow as innovations, technologies and a lot of business reverting to the use of the e-commerce. The aspect of buying and selling of goods in the early 1960s was sluggish with the traditional way of mailing of documents being replaced with the Electronic Data Interchange (EDI), which would later pave a way to the electronic commerce. After the e-commerce, however, the practice was not more reliable as it still had many challenges (Tsolis, 2009). For instance, it was not easy for buyers to see products from the comfort of their homes and more so, the methods of accessing the information were limited.

Information and communication technology has dramatically changed the way business is done today. Money changes hands in a business transaction digitally through a digital interface. Instead of through a brick and mortar store. These, plus digital computing between billions of individuals and businesses interacting with each other through trade and business, are considered the digital economy.

My venture on writing a book on economics was not something that was pre-planned. It was neither an attempt to extemporize on the current economic events that were taking place globally since the 2008 financial crisis. If it totally depended on my determination I would rather not have ventured into it, albeit the impregnable impulse to dive into it. There were unassailable challenges that delayed the project. Such experiences were a learning curve and added more quality to the work. This book is after a hiatus of twelve years since my last book. This time, I was looking at economics from a whole different perspective from the mainstream which I call True Economics. I was involved in one way or the other in human systems and how economic conditions affect them and vice versa. Remember the transition of companies in the 1990s as they were getting ready for the new millennium ahead? Of all the challenges and opportunities were the information technology revolution and the emerging internet boom. The economic factors adjusting with a new kind of economy with ample use of information some called knowledge economy. It was at the core for larger business enterprises during the pre-dot-com surge. Past the year 2000 many internet based companies also called dot-com, were transitioning from a period of the bubble and burst in the stock market. Many technologists, economists, and investors were struggling to find a framework of an economic model for the new information paradigm. The

This study will explain where e-commerce came from and try to shed light on the topic of where e-commerce will be heading.

I am part of a generation of economists that grew up online. Thus, I have witnessed the growth promise and disruptive potential of Internet-based technologies driven by their capacity to amplify and propagate economic phenomena. I want to develop and test theories about the economy-wide impact of digital technologies. My (micro)empiricist side – built working with Amy Finkelstein at NBER and Edward Miguel at UC Berkeley – tells me to trust data more than anecdotal evidence. Simultaneously, my (macro)theorist side – developed at Universitat Pompeu Fabra (UPF), UC Berkeley, and LSE– reminds me to look at patterns in a system rather than in isolation. Combining my macro and development interests, I crafted a research agenda to explore the benefits and risks of mass digital adoption. For this proposal I received the ‘La Caixa’ Fellowship – Spain’s NSF-equivalent – to fund my future graduate studies in Economics, which I hope to have the chance to pursue at MIT.

e-commerce in the last decade dramatically, as you become and can easily book or a piece of electronic gifts or to pay water and

The company are using new technology framework in there business. More new technology has given laundry proprietors more control over their business, from payment rundowns to advanced edge networking systems. Technology has driven down the expenses of hardware and software equipment that offer mechanical efficiencies. Using technology reduces the reliance on human labor. We come up with new innovation which will help enhance old routines and propose for new systems in being more cost effective. Keeping in mind the end goal to stay competitive and pick up leverage over others, businesses must have adequate learning on the innovative technological advances.

In beginning this essay, I would like to state that E-commerce and stock trading has drastically affected the lives of many Americans and non-Americans worldwide. There are several effects from this technology and new system of buying and selling. I believe that one effect is the current shift and demand for different workers. This is important, as it will reshape the definition of work for the average American as well as workers worldwide. Second, this change of business practices will fundamentally change our views of how business is to be conducted and change consumer attitudes. Finally, I believe that a final effect of this system would be the introduction of deviance and corruption.

Now, with the click of a button, consumers are buying just about anything imaginable, and all from the convenience of the internet. People no longer have to leave their homes, work or where ever there is internet access to make important purchases. Technology has advanced so that companies are conducting business around the world with out ever meeting. No longer do consumers or businessmen have to shake to complete a deal or a sale, but merely click down on the mouse and the numbers change. Some internet companies have never seen their customers and yet some traditional retailers have not yet acknowledged the internet. However, “convergence is the new religion (“The Real…”