It is evidently clear from the discussion that in the industrial society, money capital was the central asset while theoretical knowledge is the most crucial asset in the information society. In the industrial world, the main source of problems included capital/money and labor. On the other hand, knowledge and information are the sole sources of problems in the information age. The information is founded on knowledge value premise, where the value is increased by knowledge rather than labor. As a result of the transformation, some industries have arisen which thrive from the application of the findings of theoretical knowledge. The industrial society industries were founded by talented innovators who worked independent of the scientific establishments and were ignorant of many of the theories of basic science. For instance, Sir Henry Bessemer who invented the Open-Hearth Process was ignorant of the work of Henry Sorby on metallurgical properties. These early innovators contrast strongly with industries of the current age, which derive directly from the investigations of scientists into the basic phenomena of nature, and the application of this research to technological problems. For instance, the basic research of Rabi and Townes into the possibility of sending a molecular beam through an optical field led to the creation of a laser which inspired Dennis Gabor’s development of the hologram. In the same way, the work of Felix Bloth on solid-state physics is the basis of much of computer technology. Theoretical knowledge in the post-industrial society is used in radically different ways compared to the industrial society. Advances in technology are dependent upon the progress of basic research and the codification of theoretical knowledge as well as scientific initiatives. The first truly modern industry is the... This paper stresses that information and communication technology enables an individual to operate in a networked world. The worth of network connections is enhanced by high internet connection and its assimilation other telecommunication networks. The gains of being connected to the larger global; network mount geometrically as users derive more value from increased internet use. Thus, the returns of being connected to networks result in higher gains. ICT has become an increasingly useful component in enhancing globalization, and its continued use in production processes places it in the forefront in the modern economies. ICT further helps in propelling globalization further because the making of a complete ICT system requires the cooperation of various countries. Some countries are better producers of parts and components while others are best at assembling the various components into a complete and functional system. This report makes a conclusion that the post-industrial society largely differed from the industrial society in the role of information, knowledge, and industry. In the latter society, theoretical knowledge took a central role as a driver of innovation while the industry was relegated to a peripheral player in the economy. In addition, networks that connected people globally became prominent. Globalization became a major driver of the transition to the post-industrial society as networks that transcended national borders emerged and multinationals increasingly ventured into developing economies where labor was cheap.
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