The Information Age
Castells article No. 1: Castellas' idea of an informational economy seems to make more sense than the constant mention of a "service economy." Our economy may seem like it is based on services, but an informational economy is a better definition. I don't understand his point of differentiating between a global and world economy. He makes a point of explaining the global economy but not what the difference is. His point about unstable employment is worrisome, but I don't think it will be that drastic of a change. The idea of timeless time is an interesting one, and one I believe is a valid one, as time is no longer a barrier to work or anything else.
Castells article No. 2: It doesn't seem like the New Economy is all that new. The U.S. and the world economies have been shifting toward knowledge-based, innovation-based productivity growth for a long time already. The change into a globally interdependent financial market appears to be a good idea, but it would need a lot of factors to change for it to work, and I'm not sure those factors will ever change. Transactions just on the internet are fine, but countries agreeing on a financial market seems to be overly optimistic.
Garnham article: I agree with many of Garnham's criticisms of Castells' arguments, much of what needs to happen for his New Economy to work will be challenging at the very least. Technology would need to continue progressing at a quick rate and cultures would need to learn to live with each other. It seems like Castells' argument works in theory but would have a lot of problems in the real world. Too many exceptions (Germany and Japan to name two) exist. Especially in the end of class struggle section, Garnham makes some very influential criticisms of Castells.
Castells article No. 2: It doesn't seem like the New Economy is all that new. The U.S. and the world economies have been shifting toward knowledge-based, innovation-based productivity growth for a long time already. The change into a globally interdependent financial market appears to be a good idea, but it would need a lot of factors to change for it to work, and I'm not sure those factors will ever change. Transactions just on the internet are fine, but countries agreeing on a financial market seems to be overly optimistic.
Garnham article: I agree with many of Garnham's criticisms of Castells' arguments, much of what needs to happen for his New Economy to work will be challenging at the very least. Technology would need to continue progressing at a quick rate and cultures would need to learn to live with each other. It seems like Castells' argument works in theory but would have a lot of problems in the real world. Too many exceptions (Germany and Japan to name two) exist. Especially in the end of class struggle section, Garnham makes some very influential criticisms of Castells.
