Leapfrog technologies
In developing economies, companies leapfrog technologies and enter the information age much more quickly than observers in Western developed economies may realize. In older economies, the availability of more timely information in recent years has enabled business management to reduce inventory and eliminate unproductive workers who were a security "cushion" but in the end produced nothing of value. The extraordinary surge in technological innovation, particularly for information access, has given companies worldwide a new awareness of the need to manage information. According to the long-time chairman of the United States Federal Reserve Bank, Alan Greenspan, recent developments emphasize the essence of information technology. The result is the expansion of knowledge and the reduction of uncertainty.10 Because knowledge is essentially irreversible, the recent gains in productivity appear permanent. Expanding e-commerce is expected to accelerate those gains as companies sell more and more products. Already consumers can buy automobiles, groceries, toothpaste, and wine on the Web, and an ever-larger number of businesses rely on the Web to locate suppliers, customers, and partners.
The technology that makes the knowledge economy possible is spreading quickly around the globe, but of course huge gaps exist between companies with technology and millions of world citizens who do not work in companies. Manhattan has more phone lines than all of Africa. The global population is about 6.4 billion, and half the world's people live on less than U. S. $2 per day. Many people in the world have never seen a computer, let alone used one.
However, technology is spreading fast. On a visit to India in 2000, former President Clinton was amazed to see in a small poor village a computer, operating in both Hindi and English, that a person with basic literacy skills could operate. A young mother demonstrated that she could access a website complete with good graphics from the health department in India to get information about what a mother should do in her child's first six months. She printed out the information and took it home. In another village, a dairy cooperative tracks its output by computer and satellite-delivered information. In Bangladesh the Grameen Bank has launched a project to finance a cell phone in every village. That way poor villagers can be connected to the rest of the world. Internet cafes have sprung up in many underdeveloped countries, challenging ideas about technology in poorer parts of the world.
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