THE CHARACTERISTICS OF THE INFORMATION ECONOMY

The US, Japan and some European Union countries transformed to the
information economy in the early 1950s. As a result of this transformation, the size of
the industrial sector declined as the service and information sectors became dominant m
the employment and production of the countries. In this new economy, knowledge
production activities have been more important for umovation and policy formulation. A
new technology called "computer technology" or "information technology" (IT) has
come out. In addition to these changes, participatory democracy replaced
parliamentary democracy as a different political system.
This study examines the above characteristics of the information economy
deeply. The purpose of the study is to explaine the characteristics of the new society m
comparison with that of the industrial society.