Industrial economy vs information economy

Industrial Economy 

-Large and expensive infrastructure which requires manual human labor. There is a need for natural resources and material, like coal and steel.

Information Economy

-Includes non-proprietary strategies where specific 'ownership' does not exist like it does in the industrial economy. It emphasizes the individual's potential, and focuses on the emergence of large scale cooperative efforts. The individual has the power to reach millions, for example, through the net.

Return to Final Exam Review Questions Return to Information Economy