From Constantine Passaris and the current issue of RWER I have coined the word internetization for the purpose of circumventing the drawbacks of the concept of globalization. These drawbacks commence with the fact that globalization is not a new concept. The international outreach between nations has taken place since time immemorial. Furthermore, globalization does not reflect the contemporary digital empowerment of civil society and the electronic facility for modern financial transactions. In effect, internetization denotes a combination of two contemporary features. These are global outreach and electronic connectivity. There is no denying that internetization has had a significant impact on the new global economy and the scope and substance of economic governance. The electronic
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from Constantine Passaris and the current issue of RWER
I have coined the word internetization for the purpose of circumventing the drawbacks of the concept of globalization. These drawbacks commence with the fact that globalization is not a new concept. The international outreach between nations has taken place since time immemorial. Furthermore, globalization does not reflect the contemporary digital empowerment of civil society and the electronic facility for modern financial transactions.
In effect, internetization denotes a combination of two contemporary features. These are global outreach and electronic connectivity. There is no denying that internetization has had a significant impact on the new global economy and the scope and substance of economic governance. The electronic prefix that is appearing before an increasing number of our daily interactions such as e-commerce, e-mail, e-learning, e-banking, e-travel, e-democracy and e-government is a tangible expression of the pervasive influence of the information technology and communications revolution (Passaris, 2014A).
Increasingly, internetization has become a driving force in the business strategy pursued by corporations in the 21st century. Internetization embraces the transformative powers of the world-wide-web and the electronic information high way and serves as a catalyst for the evolving dynamics of interconnectivity in the new global economy. Furthermore, internetization captures the pervasive influence of technological change and electronic innovations on the global economic landscape as well as on all aspects of human endeavour for our civil society (Passaris, 2017).
Internetization has also impacted upon economic governance by facilitating public scrutiny of government documents, enhancing the accessibility of data and generally promoting the electronic connectivity between civil society and government. In short, internetization which is empowered by the internet and electronic connectivity has enabled the spectacular technological structural changes of the new global order.
It should be noted that the process of internetization is not static. It is constantly evolving, mutating and transforming. The capacity for internetization took a giant leap forward with the transformation of wired electronic technology into wireless devices. In addition, new technological frontiers have been reached through nanotechnology, cloud computing and virtual networks.
There is no denying that internetization has impacted directly and profoundly on the scope and substance of economic governance. It has facilitated new channels of communication between civil society and the government. Economic governance has been exposed to a new form of transparency and accountability in regard to government decision making. Internetization has created a new layer of intervention and regulation for government. Internetization has also revealed a darker and malicious side. In effect it has created the electronic vulnerability of the machinery of economic governance that requires its constant upgrading and the introduction of cybersecurity firewalls. All in all internetization has generated a new form of exposure and interaction for economic governance. read more