Executive Pay: The Curious Case of Carlos Ghosn’s Arrest
February 12, 2025
Ever since the internet has been invented, the world has become a global village. This means that at the present moment, data can flow freely all over the world. However, many countries are not happy with this arrangement. Countries like Russia and China are already trying to enforce data localization laws which would inhibit the […]
Fredrick Taylor was one of the earliest thinkers in the field of business process management and also one of the most controversial figures. Some regard him as the guru who gave the world a new paradigm called scientific management while others (especially labor unions) regard him as the mastermind who created conditions suitable for the […]
Introduction Information systems can be defined as set of co-ordinated network of components, which act together towards producing, distributing and or processing information. Information systems in conjunction with information technology have various applications in today’s business environment. Communication System The process of transmitting information from one place to another is called communication. The transfer of […]
Canadian Prime Minister Justin Trudeau is often seen criticizing American President Donald Trump for his protectionist trade policies. Trudeau has openly criticized the Americans and Trump in particular for breaking up the NAFTA and for pulling out of the Paris Accord. Trudeau also wants to project Canada’s image as a country wherein immigrants are welcome. […]
The Race to the Bottom and the Game of Attrition in the Indian eCommerce Sector Much like the broader Indian Economy, which at the moment is the fastest growing major economy in the world, the Indian eCommerce sector is on a roll. While initially, Flipkart and a few other eCommerce firms ruled the roost, the […]
For those of you old enough to remember the emergence of the internet in the 1990s, you would have no doubt been taken in by the then prevailing optimism and hope about the medium finally ushering in an egalitarian and a just world.
Indeed, the expectations from the internet back then were so high that experts and laypersons alike sincerely believed that by making information free and readily accessible to all, the problems caused by hoarding of knowledge and information such as the outsize role of the brokers and intermediaries who profited from precious information could be surmounted.
Further, it was also believed that the problems caused by asymmetries of information wherein those at the top of the income pyramid and the educational spectrum were able to do better than the underprivileged who did not have access to such information could at last be addressed by the internet.
Moreover, it was also felt that by connecting the people of the world together in a worldwide embrace of a spider like information web could make the world a just place as there would no longer be any barriers and obstacles between those seeking information and those having it.
Having said that, it is the indeed the case that two decades down the line, the internet is nowhere close to fulfilling these aspirations as can be seen from the ever increasing inequality and the gap between the privileged and the rest.
While the reasons for this are many, the most pertinent of them is that capitalist and free market systems have turned the internet into being monopolized by a tiny few tech firms and entrepreneurs who are no different from the Robber Barons of the Western world in the times of the First Industrial Revolution.
For instance, just as the new technologies that were released and invented at that time led to concentration of wealth and power in the hands of the few, the internet too has been monopolized by an elite wherein a few big tech firms such as Google, Microsoft, Apple, Facebook, and Amazon control much of what we do and buy as well as how we live and work.
Further, as the internet spread around the world, governments instead of making it free and accessible and transparent have increased their surveillance as well as control over the type and form of content that is being viewed and purveyed online.
However,this is not to say that the internet has totally failed in its efforts to create a more equal and a just world.
For instance, it has empowered Billions of ordinary citizens around the world to setup businesses and transact with a worldwide network of buyers anywhere and everywhere as well as anytime and every time.
Indeed, it has given rise to a truly networked society wherein anyone and everyone could simply use the medium to scale up and leverage the synergies afforded by the medium. For instance, this site on which you are reading this article is a classic example of how entrepreneurs could reach a worldwide audience of readers by making information accessible.
Moreover, it has also led to many activist movements who use the internet to organize and network with each other and to plan and strategize.
For the first time in history, it has allowed anyone anywhere to access knowledge from everyone and everywhere as can be seen from the fact that Google has replaced the traditional Encyclopedia and Library based learning.
At the risk of sounding repetitive it needs to be mentioned that ManagementStudyGuide.com is a site that substitutes formal and pedagogic learning with newer generation eLearning.
So, on balance, it appears as though that the internet has been a force for good. Having said that, it needs to be remembered that it has also become a fertile ground for Fake News and Malicious Rumors which as can be seen in recent times have resulted in many unfortunate events happening around the world.
Moreover, cybercrime and hacking of systems has given rise to new fears that the next world war would be fought in cyberspace. In addition, Robotics and Automation threaten Millions of jobs worldwide.
Perhaps nothing illustrates the paradox of the internet than the election of President Trump as he promises relief to those displaced by the medium and at the same time, uses the destructive powers of the medium to the full extent possible. Moreover, with a few individuals controlling the flow and the type as well as the commercial aspects on the internet, power has become concentrated rather than diffuse.
On the other hand, it has also given rise to a new set of powerbrokers who harness the potential of the medium to both profits as well as to give rise to equal and just forms of wealth creation.
Lastly, it needs to be mentioned that the solution to some of the problems discussed above as well as to realize the hopes that were generated when it emerged, the internet has to necessarily be an inclusive medium rather than an exclusive club.
In this context, it is worth noting that the rise of the infopreneuers who are attempting to bridge the Digital Divide has rekindled hopes about its potential being realized.
To conclude, what we need is more collective and collaborative efforts from all stakeholders to make it a democratizing medium rather than a destructive one and to make it more egalitarian rather than an evil one.
Your email address will not be published. Required fields are marked *