What Is Meant By The `commodification Of Information`. How Is This Development Significant?

`Commodification of Informationand itsSignificance (Your Name (Your University2007Commodification of Information : The ConceptThe Information sector has tremendously positive through the years . Its metamorphosis is compared to the Industrial sector of the nineteenth century . One of the effects of these drastic changes is commodification of selective teaching propelled by the dynamic digital technology (Groseide , n .d . According to Groseide , commodification of teaching is today information , together with physical goods is the raw somatic of socio-economic and cultural life in the industrialized world (Groseide , n .d p In today s world , commodification of information acquired a connotation that it is a primary good like tot on the wholey other social primary goods , i .e . income , wealth , rights and powers (Rawls , 1972 . An abbreviation would reveal that cumulatively , it appears to be the basis and foundation of all other primary goods . This made Rifkin to conclude that commodification is the transformation of `own goods of people in an organization from production and exchange to door to commodified service relationships (2000The Oxford English Dictionary defines commodity as a thing of use or advantage to mankind (1989 . It on that pointafter acquired a connotation as an economic good something of economic value and utility Commodification thereof is the act of turning something into , or treating something as , a (mere ) commodity commercialization of an activity , etc , that is not by nature commercial (Oxford Dictionary 1989 . This term has also been use to describe information as dictated by media companies and utilize as well to the development and advancement of keen piazza laws (Allen , 1980According to Eli Naom , a Professor of Finance and Economics in the capital of South Carolina University , there are four negative but absurd connotation of the term commodification of information : 1 )There is `massification of information which convey that information is produced by the bulk and in large quantities and therefore of inferior quality .

This claim according to Naom is not full-strength considering that mass production does not have any pregnant relationship with quality . Empirical evidence is necessary preferably than a mere assertion . 2 ) It is homogeneous once more , he claims this as untrue because the more information there is the more specialized it must become and therefore , less(prenominal) homogeneous 3 ) It is inexpensive . He compared this with the production of fare the price of it is lowered as production increases more than require for food in general terms . 4 ) As an economic good , it has a commercial value . He believes that information can be shared freely , donated or given as a gift especially when intellectual property rights have expired (Naom 2001With the development of advanced information technology in the information economy , the bulk of information and knowledge in the public domain takes on a different plane . Data or information which use to have no significant economic value , i .e . ideas , genetic data , and the like , are now the design quasi-property rights susceptible of transfer , trade , exchange for value - thus , a tradable commodity (Hugenholtz , 2004 . This in fact , is the very innovation of commodification which has spurred debate...If you want to get a full essay, order it on our website: Orderessay

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