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The 3rd Wave


            
             The third wave or as some may call it the new economy is here right in front of our face. The world has went through other revolutions before. Around eight thousand years ago the world went through the agricultural revolution, around 1850 the industrial revolution began, and now the third wave is known as the knowledge or technology revolution. Did the Internet enable a new economy? I think the most recent facts says that it has.
             The technology revolution is upon us. In recent years there have been many triumphs in technology. Now more than ever, people are able to communicate over thousands of miles with the greatest of ease. Wireless communication is much to thank for the ease of communication. What used to take week now takes just a day or two. Technology, Changing our lives and our laws. The 21st century was never predicted to be what it is by our founding fathers. The truth is nobody ever expected our country to come down to the way we see it today. Computers and technology are now part of our daily lives. Some people feel that they cannot live if they don't have the internet. .
             The computers and the Internet run the economy. This country is entering a digital economy. It's not at the same level it was in the 1920's when the entire United States was thrown into a horrible depression. America has pulled itself in to a new revolutionized economy. .
             The large spurt in technological progress during the past eight years is mainly due to a series of developments. Rapid progress in computer capabilities, the explosive growth of the Internet, advances in cellular and other wireless technologies, the growth of fiber optics, advances in biotech, greater world competition for United States companies which induced improvements in business efficiency and myriad other smaller improvements in technology. .
             Since 1993, the economic statistics for the United States economy have been wonderful. Productivity is way up and accelerating, wages are up and increasing, and inflation is down and declining.


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