It is widely accepted that most modern economies are Information economies, and that a significant amount of economic growth and productivity growth in the developed nations of Europe, North America and the Far East is driven by information and communications technology (ICT). What is less widely accepted and understood is that actually all economies are information economies. The free flow and availability of information lowers the barriers to economic activity and stimulates growth and productivity in even those economies that we do not normally regard as fully “developed”.
