Shirley Baboolal
The Digital Economy
Promise and Peril in the Age of Networked Intelligence
by Don Tapscott
Reviewed by Rupali Babu
Don Tapscott described the age of Networked Intelligence as an all encompassing and revolutionizing phenomenon fuelled by the convergence of advancements in human communication, computing (computers, structures, services) and content (publishing, entertainment and information procedures) to create an interactive multimedia and information highway. This new age is gradually forcing us to rethink the way we perceive the traditional definitions of economy, wealth of creation, business organizations and other institutional structures. Tapscott has created a strong argument for the creation and establishment of a digital economy. However, he does not take in account that in order for the economy to succeed will be highly dependent on the way people perceive it and use it. There are issues of trust within organization and people, misunderstandings, linguistic barriers, and the entire social garmat of cultural dissimilarities, different values and beliefs, as well as plain and single economies. His concept of measuring wealth in terms of knowledge creation is brilliant but will definitely take time simply because a unanimous standardized guideline will have to be accepted by people.
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