![]() ![]() "It represents one in which consumers are passive, as opposed to the networked information economy in which consumers are active often to the point of equally being producers (either in terms of creativity or by allowing usage of their idle processing, storage or bandwidth). Recently, industrial information economy evolved into a new form known as networked information economy with the advent of the Internet ( Benkler 2003, pp. 1250–1251). ![]() "Industrial information economy is the first form of information economy and has existed since the late-nineteenth century "and into the twentieth-century ( Benkler 2006, p. 3). In this work Benkler described how the " Industrial Information Economy" is evolving into the "Networked Information Economy" as a result of the Internet and social media. In 2006 Israeli-American author and Professor of Entrepreneurial Legal Studies at Harvard Yochai Benkler published The Wealth of Networks: How Social Production Transforms Markets and Freedom through Yale University Press. ![]()
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