Essay The Global Village and the New Economy

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The Global Village and the New Economy

The New Economy falls into the latter part of the information age in the evolution of society. It has many characteristics. It is the age of the global village, the idea that the whole world is unified as one because of the speed in which information is processed from one end to the other. The idea of personalization of technology is also a characteristic of the New Economy, which allows people to modify technology and make it unique to each individual. In the new economy, individuals are face with a new treat, less is more. (Straubhaar,289) The size of technology has decreased but the performance of this new technology has increased. These innovations have become an important factor to find the
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It is only in the New Economy that we see this ultimate usage of personal computers, which connects people, allow them to conduct business efficiently from home, and makes the personal computer a compact way of organizing and transporting data.

In the New Economy, the advertising industry has also been positively affected by computers. As the criteria of the New Economy stated, the personalization of ads is possible with the use of computers. “Computers allow advertisers to build databases and save information, so personalized messages can be sent via the internet.” (Straubhaar,419) The one-to-one advertising strategy found on the internet, goes to confirm the existence of the New Economy.

The idea of living in a global village, being connected, and having all processes accomplished with high speed is an aspect of the New Economy. The telephone, using the computer started converting voices to access the internet at a rate of 128,000 bits per second only recently.(Straubhaar,325) Therefore, it is a fast and efficient technique and an inevitable characteristic of the New Economy.

The computer has also penetrated the traditional film industry. The New Economy consists of the element of change.

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