Group Work-Nature of Economy
In Industrial societies, the success of the economy depends mainly on the ability to sell local resources and
manufacture goods. The businesses that make up the economy in Industrial societies are rather centralized
in certain areas, and are rather independant and self-sustaining in that they are usually locally based.
In contrast, Informational societies' economic success depends on the ability to break into and sustain a place in the "space of flows", meaning maintaining access and control of information, and communication with other informational
societies. Informational societies are much more interdependant in the nature of their economy as the sustenance of the society depends on having connections with other societies to exchange information and resources, thus the
notion of the "global economy" in Informational socieites.