Difference in features new and old economy in digital divide

The digital divide refers to the gap between individuals, households, businesses, or geographic areas that have access to technology and the internet, and those that do not. The old economy and new economy have different features that contribute to the digital divide. Here are some key differences:

Old Economy (Traditional Economy):

  1. Limited access to technology: The old economy was characterized by limited access to technology, especially in rural or low-income areas.
  2. Costly and complex technology: Technology was often expensive and difficult to use, making it inaccessible to many people.
  3. Limited internet penetration: Internet access was limited, and it was often slow and unreliable.
  4. Focus on physical infrastructure: The old economy focused on building physical infrastructure, such as roads, bridges, and buildings.
  5. Job security and stability: Jobs were often secure and stable, with a focus on traditional industries like manufacturing and agriculture.

New Economy (Knowledge-Based Economy):

  1. Widespread access to technology: The new economy is characterized by widespread access to technology, including smartphones, laptops, and high-speed internet.
  2. Affordable and user-friendly technology: Technology is now more affordable and user-friendly, making it accessible to a broader range of people.
  3. High-speed internet: High-speed internet is widely available, enabling fast and reliable access to information and services.
  4. Focus on knowledge and innovation: The new economy focuses on knowledge, innovation, and entrepreneurship, with a emphasis on creating new products, services, and business models.
  5. Job insecurity and flexibility: Jobs are often less secure and more flexible, with a focus on freelancing, remote work, and entrepreneurship.

Digital Divide:

  1. Access to technology: The digital divide refers to the gap between those who have access to technology and the internet, and those who do not.
  2. Skills and literacy: The digital divide also refers to the gap in skills and literacy between those who are familiar with technology and those who are not.
  3. Geographic disparities: The digital divide is often exacerbated by geographic disparities, with urban areas typically having better access to technology and internet than rural areas.
  4. Socioeconomic disparities: The digital divide is also influenced by socioeconomic disparities, with lower-income households and individuals often having limited access to technology and the internet.

In summary, the old economy was characterized by limited access to technology, while the new economy is characterized by widespread access to technology. The digital divide refers to the gap between those who have access to technology and the internet, and those who do not, which is influenced by geographic and socioeconomic disparities.