SOC 3116 Study Guide - Internet Protocol Suite, Lead User, Disintermediation
Document Summary
Economic activity making things, providing services, and buying/selling; now occur at global level. Canada is particularly active in the global economy, with over 30% of economic activity destined for or originating outside our borders. Knowledge economy buying and selling of knowledge: knowledge economy vs. information economy. Knowledge is learned over time and enables action; it cannot be purchased. Owning a book is not the same thing as understanding what is in it. Increasingly ubiquitous nature of new media and globally networked icts worldwide. New media is central to globalization because they constitute the borderless technology and service delivery platforms through which flow the images, information, finance, and communication that make up the global world. New media are not globalizing forces, but have local, regional, and national manifestations and implications as well: globalization. Internalization of production, trade, and finance with rise of mnes, reductions in cross-border tariffs, deregulation of financial markets, and rise of internet/e- commerce.
