The Internet Revolution

In the fifteenth century, the printing press made widespread dissemination of

written information easy and inexpensive. The printing press sends information
from the printer to the general public. It is a one-way method of communication. In
the new millennium, we have the Internet. Not only is transmitting information via
the Internet cheaper and faster than in the printed form, but it also is a two-way
method of communication. The Internet is a revolutionary communications tool
because it has the potential for feedback from one consumer to another, or from
one company to another. For the first time, the Internet gives firms and their
customers in New York City, in Jackson Hole, Wyoming, and in the wilds of
Africa the same timely access to widely publicized economic news and
information. With the Internet, up-to-the-minute global news and analysis are just
mouse clicks away. The Internet also gives global consumers and businesses the
opportunity to communicate with one another and thereby create fresh news and
information. Over the Internet, customers can communicate about pricing or
product quality concerns. Businesses can communicate about the threat posed by
potential competitors. The Internet makes the production of economic news and
information democratic by reducing the information gathering advantages of very
large corporations and the traditional print and broadcast media. With the Internet,
the ability to communicate economic news and information around the globe is just
a mouse click away. With the Internet, companies are able to keep in touch with
suppliers on a continuous basis. Internet technology makes “just in time”
production possible, if not mandatory. It also puts companies in touch with their
customers 24 hours a day, 7 days a week. 24/7 is more than a way of doing
business; it has become the battle cry of the customer-focused organization.
Internet technology is a blessing for efficient companies with products customers
crave. It is a curse for the inefficient and slow to adapt.

Thomas E. Webber, “Political Meddling in the Internet Is on the Rise and Needs to End,” The Wall Street
Journal Online, March 4, 2002 (http://online.wsj.com).