“The world has changed far more in the past 100 years than in any other century in history. The reason is not political or economic but technological technologies that flowed directly from advances in basic science” (Stephen Hawking). As Stephen Hawking stated, technologies have gradually advanced from the past times. In fact, this progressed technology has impacted the economics both positively and negatively. In Chapter 2, they mention KKK, which is Ku Klux Klan. They compare KKK to sudden fall of term life insurance. Also, they give examples of how people misuse Internet’s characteristics by proclaiming the false information publicly on the Internet. By using the advantages of the Internet, people can increase their income. Benefits of the cyberspace could yield be used to maximize consumers’ profit. If I were the finance minister of Republic of Korea, I would take advantage of the advanced technologies.
As this book mentions, websites such as Quotesmith.com let consumers compare the prices of the goods so that they can make better choices by weighing the expenses. Three decades ago, there was no such websites that tell all the prices of each company’s products. Sellers could commit fraud against the consumers because the consumers weren’t aware of the prices of each company’s goods. Unfortunately, consumers had to buy the goods even though it was expensive since the goods were necessary to them. However, technology steadily started to change by creating practical