Businesses Undergoing Change
The history of technology shows us that the history of information technology and economic history were and still are closely related to each other. The examples range from the mechanical calculator Blaise Pascal invented in 1645 for decimal addition and subtraction to the Colossus computer Alan Turing built in 1936, from the Arpad Net that went into operation in 1969 to the development of the Word Wide Web and its interactive, participatory version, Web 2.0, as well as social media.
All these innovations were directly reflected in economic events, with the innovations of the present and future naturally being put to commercial use at ever faster rates of speed. The interplay between technical innovations and their economic utilization involves a tremendous dynamism. The path from innovation to marketable product is becoming ever shorter. One reason for this is that market economy style competition has increased worldwide. The demand for technological powers of innovation is also rising steadily. The international competition among business locations for growth and prosperity is ultimately a competition for innovative strength. Read more →