Showing posts with label The relatioship of information in the economy. Show all posts
Showing posts with label The relatioship of information in the economy. Show all posts

Thursday, July 31, 2008

The relationship of Information to the Economy

If we look at a product, it has some kind of relationship to it's producer or seller, through the same way it is presented, made or sold. Thus, when we are are on a store either shopping physically or online, we compare and find out more about the products we see by getting more information.

So these days, the mechanics in the buying process or transaction relies greatly in the information exchanges through what we see and observe. The price can be an important part but really is determine between the buyer and seller of the product. Yet even in cases of reselling like used books, the information can be found in the subjects, categories, way of presentation, the quality in the item descriptions, standards, selling practices and expectations.

Hence, one of the most important part is getting informed and the way the information is dessiminated. By understanding what someone buys, pays, the demands are information relevant to our economy to once again make changes and then sell them again.

So as we today experience in the ill effects of a recession, it might not make sense to argue which fault is it that got us to the present economic predicaments. How we get back the industries on track when for example people now are not even using cars because of the high cost of gas and oil so that the investing community get backs the confidence to infused money and investments back to the economy will be the necessary actions.

As we have seen as the prices of gas and oil is going up, our income remains the same and flat, so are our capability becomes less to buy the things we need. We have even became very selective on what we buy as our income cannot meet our needs for goods and services.

The greatest myth about the economic behavior is that "money" is it's language. This language is the information in the goods and services but money must be noted as a mere part of the entire information. Business successes comes from the entrepreneur's ability to perceive wants and needs, and this perception relies on the the entrepreneurs' understanding of people and the environment.

Thus, the greatest part of the economic problem today in the United States is lack of information about people, what their daily lives are, what they are doing, what does the people want, how we can help achieve this need if we even listen, what are the state of their lives are where they live.

By underatanding the difference between an influential society than being affluential, the government and pillars of the industries must able to transform companies into being more informed and intelligient, support the work force and labor unions in coming up with better products that will eliminate emissions and waste, communicate with the employees about product and service quality and new ideas.

Alex Esguerra

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