Agricultural Age
Industrial Age
Information Age
In the 1970's, author Alvin Toffler discussed the Third Wave. The movement of the economy from an Industrial Base to an Information Base Economy.
Agricultural Age:
What assets made someone wealthy?
Assets:
Industrial Age:
What assets made someone wealthy?
Assets
Information Age:
What assets made someone wealthy?
Assets
1917 vs 2007
Income disparity between rich and poor.
What Defines a recession/depression?
Decline in Gross Domestic Product (GDP).
GDP is total market value of all Goods and Services produced in a country in a given year.
Consumer
Business
Government
Import/Exports
Increased Productivity leads to a better standard of living.
Example:
Economic Age
VS
School System
K-12 Education
Agricultural Days
1 room school house
Industrial Age
Information Age
ECONOMY OVER TIME
Where are the jobs?
Gross Domestic Product
Data - raw facts
Information - Make Data Understandable
Knowledge - Solutions based on Information
Jobs of the past were data based - bookkeeper
Jobs of the future are knowledge based - CPA
- Financial Planner
Data
Information
(Organized Data)
Knowledge
Use of Information to make decisions and/or explain what happened
Boston played great defense holding Memphis to under 39% from 2 pt and 22% from 3 pt area.
Boston played more unselfish on offense with 28 assists compared to 13 for Memphis.
High paying Jobs now include how to use Information Systems to increase productivity and decision making.
The economy has moved from the Farm to the Factory and now to the Cloud. What is next?