In a recently published book, "The Lexus and the Olive Tree," author and
journalist Thomas Friedman tries to summarize the rapid changes in our economy due to
globalization. He dates the modern era of globalization to the fall of the Berlin Wall and
the fall of communism.
Parallel to this has been the rise of the Internet and technological developments of
computerization, telecommunication, miniaturization, compression technology and
digitization. These changes are as profound to society as were the introduction of the
printing press, the automobile, telephone or television. Friedman cites a Merrill Lynch ad
that heralds the significance of the change, "The World is Ten Years Old."
Fast world and slow world. This has produced a democratization of technology,
finance and information across borders and cultures. "Getting connected" is the
metaphor for the new Internet age. Instead of the old designation of 1st world developed
countries and 3rd world developing countries, Friedman refers to the new economy as the
"fast" world and the "slow" world.
There are segments of the fast world in each country who are "wired" and
connected while each country would also have a slow world oblivious to the new
technologies. The slow world will be at a disadvantage in terms of new emerging economic
realities and possibilities in the fast world. They will be left behind by the new
economy.
E-commerce. We are just beginning to see the tip of the iceberg of electronic
commerce (e-commerce) through Internet sites like amazon.com, reel.com, e-bay.com,
garden.com, embroidery.com, etc. The marketplace is going to be transformed into
cyberspace. How will "land-based" businesses fare under the new economy? Some
will be rendered obsolete entirely while others will have both a land-based and cyberspace
component.
It boggles the mind to envision the dynamics of this new marketplace and all the
upheavals, new businesses, dislocations and synergies. This new world favors intellectual
"value-added" products, content providers, higher education, global competition
and quick-footed flexibility. There will be a lot of stress and a lot of rewards.
Internet stocks are flying high not on actual value but on the basis of their potential
for establishing themselves at the center of the new marketplace. Some are going to win
big and others will fail dramatically as they fail to establish themselves as the name
"brand" among giants of competitors.
Lawrence Grossman, former head of NBC News said, "Printing made us all readers.
Xeroxing made us all publishers. Television made us all viewers. Digitization made us all
broadcasters."
The downside. In the face of these changes, let me raise a few concerns.
- Besides being a few clicks away from a world class education, a vibrant marketplace and
e-mail connections with family and friends, we are a few clicks away from depravity and
evil. The Internet will add a disproportionate share of unregulated filth and
wickedness to an already culturally polluted environment.
- With undisciplined use, the Internet weakens primary relationships within the
family and community by devoting inordinate time to being online and to secondary
relationships. The Internet increases loneliness and depression. People in the age of
information have to be disciplined and focused in order to use the Internet as a defined
tool to accomplish specific goals. Life has to be lived in balance with relationships and
community bonds having a high priority.
- With e-commerce and e-learning, virtual communities will replace real ones. What
will happen to our traditional human institutions and community gathering places when we
have no need for local connections? This will keep sociologists busy for years. The
potential for social dislocation and isolation will be as profound as the economic
consequences. Careers emphasis and materialism will grow at the expense of service
opportunities and community celebratory activities. Will the fast world get so fast that
charity gets left on the sideline?
High values with high tech. High moral values and a strong spiritual perspective
will be necessary to anchor human beings in this dizzying world of change just over the
horizon. We'll have to be more deliberate in our choices to come together and nourish
relationships and community. We'll have to reject the excesses of materialism,
selfishness, base indulgence, entertainment and other cultural traps while taking
advantage of the connected world of the Internet for our own focused benefit.
This "ten-year-old" world we live in needs the values and wisdom of the past
to help us hold on to what is really important in life. The fast world and the slow world
need to coexist and support one another. We'll need both our real neighbors and our
virtual neighbors. What a mixed up, exciting world this will be!
By the way, you may want to check out my new website under construction, www.valfarmer.com.