What’s the Latest Development?
Software developed around the world (and often perfected in Silicon Valley) will drive the world economy forward as it enables small businesses to run with increasing efficiency in a world that increasingly effaces traditional obstacles like time and distance. “The Linux operating system, the Apache web server, the MySQL database, and the Python programming language are prominent examples: the LAMP components that serve as basic building blocks for much of the web.” Today, the smallest company can outperform the large corporations of 15 years ago.
What’s the Big Idea?
Just as industrial revolution set the world economy of the 19th century on its course, so computational and communication technologies will greatly determine the 20th century economy. “Innovation has always been stimulated by international trade, and now trade in knowledge and skills can take place far more easily than ever before.” Changes in software will affect the physical composition of the economy by allowing individuals and small businesses greater access to production facilities.