- Digital economy
A digital economy is an economy that depends on electronic goods and services produced via an electronic business and, traded and through electronic commerce. That kind of electronic businesses is used with electronic production and management processes which interacts with its partners and customers and conducts transactions through Internet and Web technologies.[1]
-The differences between the Old economy and the digital economy:-
A-Old-economy
1- In the old economy, information was physic. People communicated and conducted their missions or business by moving their physical presences into a meeting room, talking over an analog telephone line, sending letters made of atoms to one another, broadcasting analog television signals to homes, showing pictures developed at the local photo shop, exchanging cash or checks, playing records by the guidance of a stylus through some grooves on a record, publishing physical magazines purchased at a store or delivered by the post office, or projecting light through a physical film strip at a movie theater.[2]
B-Digital-economy
In the new economy, information is in digital form: bits. When information becomes digitized and communicated through digital networks, a new world of possibilities would open or unfold . Vast amounts of information can be compressed and transmitted at the speed of light. The quality of the information can be far better than in analog transmissions. Many different forms of information can be combined, creating, for example, multimedia documents. (If a picture is worth a thousand words, the right multimedia document retrieved at the right time is worth a thousand pictures.) Information can be stored and retrieved instantly from around the world, eventually providing instant access to much of the information recorded by human civilization. New digital appliances can be created that fit in your pocket (or smaller) and can have an impact on most aspects of business and personal life.[2]
[1]http://www.answers.com/topic/digital-economy
[2]http://www.businessweek.com/chapter/tapch02.htm
This write up is ordinary. I believe you can do better. The basic findings on old and digital economy are there, but it can be improvised by having some criteria to differentiate the old and digital economy.
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