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CCTP-753-01 The Networked Economy
Spring only
Over the past few years, the benefits of the networked economy have been given tremendous play be investors, journalists, business school pundits, and government officials alike How little we truly understand the workings of the Networked Economy was recently made clear, however, by the mad rush to invest in Internet stocks and the subsequent "correction" of the market.
Explanations of this sequence of events have been anything but profound. As described by Thomas E. Weber, for the Wall Street Journal, "The Internet bubble may have burst, but don't worry." From the people who brought us, "Profits don't matter!" There is already a new mind-bending mantra: Failure is good. It's that kind of doublethink that convinced a whole lot of people over the last two years that anything Internet-related was a sure thing.
The recent setbacks do not belie the fact that we are entering into a new economic era, supported and mediated by advanced networking technologies. To the contrary, all economic indicators suggest that the unprecedented recent growth in the economy can be attributed to advances in and more widespread diffusion of networking technologies. What these setbacks do indicate, however, is that the forces driving the networked economy are far more complex than was previously understood.
The class will provide some theoretical underpinnings for understanding the networked economy, and the technological, economic, and social issues to which it will likely give rise. The aim is for students to be able to better analyze and explain events and developments associated with the networked economy.
Credits: 3
Prerequisites: None
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