THE OLD ECONOMY
One common term that often springs up in the discussion of the digital divide is “old economy.” The old economy is the economy system mainly based on subsistence farming; large scale economy based on commodity money. In the ancient times, for most people, the exchange of goods occurred through social relationship.
The old economy also refers to the business or economic system involving mega companies which thrived and expanded rapidly before the onset of the information technology age.
Features of the Old Economy
The following are features of the old economy.
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