A services economy is an economy whose primary activity it based in the tertiary or services sector. The services revolution can be described with reference to very straightforward empirical data. Over the past number of decades, services have come to dominate advanced economies and are slowly but surely coming to dominate the global economy.
As the Industrial Age appears to be coming to a close we are left scrabbling for new terms to define the world we live in in the 21st century and there are no shortage of candidates from the Space Age to the Information Age to Globalization
Peer production is a way of producing goods and services that relies on self-organizing groups of individuals. In such communities, the labor of a large number of people is coordinated towards a shared outcome typically through distributed networks without a formal, hierarchical structure.
The paradigm of sustainability is a new way of seeing post-industrial societies and their relationship to the natural environment, it is a recognition of the fundamentally unsustainable nature to the industrial model of development, and an awareness of a need for radical change within its economic and technological infrastructure, in order to achieve a sustainable circular economy.
An information society is a society whose primary economic activity is the processing and exchanging of information and knowledge. It is built upon a new wave of technological development brought about by the advent of the digital format, microprocessor, personal computer and the Internet
Globalization represents the proliferation of relations on a global scale. The abstract phenomenon of globalization is one of the major processes of change in our world today. It is a social, cultural, technological and of course economic phenomenon.