Flat World?

The famous cheerleader of globalization, Thomas Friedman, characterizes the global economy as a “flat world” where anyone can reap the benefits of the many opportunities that are provided by globalization because there are no “barriers” anymore with the advent of the internet.

The basic premise is that anyone from anywhere can use the internet to start online businesses or join companies that have similarly leveraged the power of the internet.

Further, the fact that anyone can start with a business without geographical considerations as the only requirement for an online business is that it must have expertise and a great business idea or a business model means that unlike in the past when export units had to setup, there were multiple factors like access to land, labor, and capital.

Internet as the Leveler

This brings us to the topic as to whether the invention and the rapid spread of the internet have made it possible for no barriers to entry for businesspersons.

Indeed, as the many examples of online businesses show, the internet is the reason for the success of these businesses.

In fact, if you are reading this article, it means that the internet has facilitated the exchange between you the reader and the creators of this site. There cannot be a more valid and relevant example than the fact that this site has been made possible because of the internet and that readers are benefiting from this exchange.

This goes on to show that innovative, hardworking, and driven entrepreneurs can leverage the power of the internet to build great businesses that are profitable and at the same time add value to society.

Hence, the internet is indeed a great leveler where anyone can start commercial exchanges provided the basic requirements of seed capital, great ideas, and broadband access are fulfilled.

Digital Divide

However, before terming the internet as the game changer, which it is but, the fact that access to computers and the internet is, still a problem in many developing countries is a cause for concern.

Indeed, the digital divide or the term used to describe the divide between the haves and the have-nots in terms of access to the internet is a potent reminder that much needs to be done before one can safely say that we are living in a flat world. Of course, the policymakers across the world are cognizant of this divide and are doing their best to alleviate this problem.

Closing Thoughts

It is important for all the stakeholders to understand that the internet is a valuable source of value to society and hence, all efforts must be done to protect it from any kind of disruption.

Given the connected nature of our world, we cannot afford even the slightest outages and for the entrepreneurs, in particular, it means loss of business.

Finally, attempts to regulate and control the internet must likewise consider these factors.