Internet & the birth of InfoCom industry IT & Economic Performance

As Heraclitus said in the 4th century BC, "Nothing is permanent, but change!" Everyday life in the world societies has been touched and in some parts substantially altered by the advent of the Internet and the so called Information & Communication Technologies (ICTs). The usage of ICTs has become embedded within our societies. The influence and implications of this have an impact at a macro level in the way our governments, economies and businesses operate, and in our everyday lives. The true value of ICTs is summarized in the words of the Nobel prized economist Joseph Stiglitz: "The new technologies have caused increases in productivity that will continue to make a huge difference in our living standards"