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Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

The Information Laws

The Information Laws
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Author(s): Andrew Targowski (Western Michigan University, USA)
Copyright: 2001
Pages: 5
Source title: Managing Information Technology in a Global Economy
Source Editor(s): Mehdi Khosrow-Pour (Information Resources Management Association, USA)
DOI: 10.4018/978-1-930708-07-5.ch011

Abstract

Mankind progresses in proportion to its wisdom which has roots in practice, acquired skills, available data & information, concepts and knowledge. To be wise, humankind needs to be informed and knowledgeable, otherwise will not survive own failures. Progress in knowledge was painfully slow as long as the racial memory was transmitted only by oral tradition. With the invention of writing and books the process of knowledge discovery and dissemination has been accelerated. Today, computers and their networks speed up that process far beyond our imagination. In 2000’s the Information Wave significantly controls the Agricultural and Industrial Waves through millions of computers. IT supports decision-making based on knowledge-oriented systems such as “data mining” that, for example, discovers knowledge about customers, organizational dynamics, and so forth to achieve competitive advantage. economy, knowledgists stress the need to control the growth of new knowledge discovery. Given the “long and variable lags” of knowledge and information policies and the difficulty in forecasting future economic events (such as recession), knowledgists question the ability of industrial or service-oriented macroeconomics to implement the “correct” economic policy. The knowledge approach suggests that direct government intervention within the economic system should be guided by the “predicted history of the futures.” The knowledge policy is the key to this intervention; in this sense, the knowledge policy is closer to Keynesian interventionists than to “conservative” monetarists. The supply and demand of information (knowledge) is the most basic model of information ecology (IE). However, prior to this model, we have to examine the stages of the information reservoir

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