Information Economy

The information economy is an economic system in which the production, distribution, and use of information and knowledge-based products and services play a central role. The information economy is characterized by the increasing importance of intangible assets, such as knowledge, information, and intellectual property, in the creation of wealth and the development of economic growth. In the information economy, information and knowledge are key factors of production and are often traded as commodities in their own right. The information economy is driven by technological advances, such as the growth of the internet and the proliferation of digital technologies, which have transformed the way information is produced, shared, and used. The information economy is also characterized by the increasing importance of the service sector, which includes a range of industries, such as finance, education, and healthcare, that rely heavily on the use of information and knowledge.