Digital economy requires everyone to adapt

[Lite Beer]

EDITORIAL
Digital economy requires everyone to adapt
The Nation

BANGKOK: -- The new economic order should not leave consumers behind

We need no experts to tell us that the digital economy will be more prevalent this year. We will be doing more online transactions in 2015 than ever before. Movies, music, books, business stocks, sports bets and much more have been in digital form for years, but the quality and security are improving all the time, luring more and more consumers into the "convenient" marketplaces. Companies are rethinking or reinventing their IT departments. New online applications to facilitate purchases of digital goods are introduced everyday.

Grass-root vendors who assume they are a world away from the digital economy are mistaken. No one holding a "smart" gadget in his hand can escape being a part of the new economic order. Anyone receiving a text advertisement or watching a video clip promoting Thai TV soap operas on YouTube in participating, whether they like it or not.

We all know about the pros. The digital economy reduces production and distribution costs and gives customers faster and often cheaper services.

The cons are a less understood. The "piracy" perceived by the financially better off is an opportunity to the less privileged. Digital goods are not only easier to copy, they are also easier to market. Political corruption and corporate crime employing the digital economy can be harder to detect. Money laundering, already sophisticated and hard to spot, will become more complex and even harder to track.

Last but not least, the digital economy might "self-cannibalise". Inadequate regulation and copyright control can sink a product's value in the blink of an eye. Already the entertainment industry is getting hammered by copyright infringement. Again, entertainment entrepreneurs call the copiers "thieves", but to many consumers, the thieves are Robin Hoods who give share the wealth of knowledge and creative inspiration.

The phenomenon is here, so there's no point debating whether we should have a digital economy. All we can do is make sure everyone gets what he deserves and no one is left behind.

Politicians and governments must facilitate the establishment of the necessary infrastructure. Only through effective infrastructure can the problems of exploitation and corruption be lessened. The digital economy requires widespread knowledge about how it functions in order to be transparent and, hopefully, sustainable.

Of prime importance is that, like digital goods, every "price" has to fall. Companies can’t expect to be richer when the prices of their products are going down. If the digital economy enables firms to cut costs, consumers must benefit in the same way. It doesn’t make economic sense for private firms to be spending less when the consumers face the same or even larger costs.

The old profit-oriented attitude will only spawn copycats, which, thanks to the digital economy, can look very "original". Goods must be cheap enough to keep customers in the legitimate market. The infrastructure must be convenient and secure enough to guarantee low prices and fees for products and services.

In short, the digital economy requires everyone - from business executives to first-time smartphone users - to adapt. The new economic order is taking place alongside something bigger - the IT revolution in general. Since what the latter does is close the inequality gap, the digital economy has no choice but to go with the flow, for its own good.

Source: http://www.nationmultimedia.com/opinion/Digital-economy-requires-everyone-to-adapt-30252099.html

-- The Nation 2015-01-17

[bangkapi]

Propaganda!!

New economic order = New world order

Thanks, but I'll use cash.

How about a sound currency to use for economic transactions instead of this fiat paper crap that is guaranteed to lose value over time to prevent us from storing the value of our labor further forcing the masses to work and slave until the we die?

[NCC1701A]

somebody in the Thai government just now find out about Amazon.com?

They must be amazed that in America you can order something by UPS and it is not stolen and you track your package in near real time.

Amazing how Thailand being the land of cheap flashlights that the ones sold in America are much better quality and cheaper.

Thailand lets work on dropping or reducing import duties, being able to speak English, calling customers back, answering emails, refunding money for defective goods or services before we try to be the USA 15 years ago.

[WhizBang]

Just a BS article. The 'digital economy' has been with us for well over 10 years now.

Also, cannot see the digital economy helping the street vendors much, or other such non technology aspects of life.

[NeverSure]

Propaganda!!

New economic order = New world order

Thanks, but I'll use cash.

How about a sound currency to use for economic transactions instead of this fiat paper crap that is guaranteed to lose value over time to prevent us from storing the value of our labor further forcing the masses to work and slave until the we die?

Propaganda? Sir, it is innovation that allows us to have all that we do. Look around you and see everything that your grandparents didn't have. We had the industrial revolution where standardized parts and the assembly line was created. Now we have robots that can run assembly lines and not only stock warehouses but pick orders from the shelves.

We have the information age with anything we want to know at our fingertips. I used to have to go to a library and look something up.

Things have gotten cheaper in real money due to efficiency and that's why we can afford so many things that our grandparents couldn't have.

I bought 3 things on the internet today without even leaving my house. My order had free shipping and the prices were right. I shopped more than one store to get what I wanted and the price I wanted and they will be here in a few days. I saved time and money and don't really like to run all over and go into stores hoping they might have what I want. I can do all of my bills and banking paperless, online.

It's a revolution and I like it.

[Thai at Heart]

Having started in earnest to buy on line in the uk, it is something when people set up a business to sell things valued at few quid online.

Literally you can buy anything anytime. The only issue is shoe sizing but just post them back. Cheapest was screen protectors for a phone. 1.50 GBP delivered.

ThaiPost would die under the volume and thousands of useless shops would close in Thailand.

[maidee]

digital economy in thai style, which has been going on for a decade or more :

thai vendor downloads illegal movies & series, put them on cd/dvd and sells them

end of thai involved in the digital economy

[wabothai]

Says who ?

Digital economy is instigated to get control over the money stream, thus control over all people in the world = new world order.

The best way to fight this is keep on paying with cash,

Europe and the US are unfortunately already a victim of this scam.

[catmaninoz]

^^

You mean the entire developed world.

Hows your rock cave?

[Mudcrab]

Dear God there's some wierdo's on here.

I honestly haven't been into a Bank (apart to sign papers) for over twenty years. Closer to 30 really.

My salary is digital transfer as are all the bills I pay.

What's the big deal?

Edit to add:

I find it rather strange that a lot of "anti mind/thinking/CIA/FBI/control posters" or call them what you will are from the "Land of the Free" yet are given an ID number at birth.

Rather amusing really.

Edited January 17, 2015 by Mudcrab

[Emster23]

requires everyone to adapt

Everyone? really? Or perhaps just hiso wannabe friends of the author. Does the noodle vendor down with street cart need to be switched in and connected? Some dirt farmer in Isaan? This typical assumption "only people just like me comprise "everyone" is one reason many would like these folks up against a wall....

[Philippines]

Just a BS article. The 'digital economy' has been with us for well over 10 years now.

Also, cannot see the digital economy helping the street vendors much, or other such non technology aspects of life.

Maybe the DE doesn't help the non technical street vendors, but according to Jack Ma at Alibaba, it opens opportunities for anyone with a camera phone to post items online for sale, items that he does not even have a dime invested into. One can snap photos of what is available, add some shipping costs to the description and within minutes have an online store complete with Paypal. Think of the possibilities for those with time on their hands.

[Commerce]

"No one holding a "smart" gadget in his hand can escape being a part of the new economic order. Anyone receiving a text advertisement or watching a video clip promoting Thai TV soap operas on YouTube is [sic] participating, whether they like it or not."

Far from correct. I was involved in developing Cobal, Fortran and C++, AND TO THIS VERY DAY I would not and shall never participate in online banking, nor purchasing goods online. Why would I want something I do not have my hands upon? Nothing comes for free nowadays (apart from obvious self-initiated freedoms) {read the small-print}, and I have no vested interest in supporting the alleged 'new economic order', as previously mentioned.

I have smart gadgets for communication, but that does not automatically transpose my intentions or limit me to deal with matters as I prefer to.

As for watching Thai soaps on YouTube, I rather stick my manhood in ice whether I liked it or not. .........

[surangw]

the digital part of this is the middle finger

[Suradit69]

Propaganda!!

New economic order = New world order

Thanks, but I'll use cash.

How about a sound currency to use for economic transactions instead of this fiat paper crap that is guaranteed to lose value over time to prevent us from storing the value of our labor further forcing the masses to work and slave until the we die?

"How about a sound currency to use for economic transactions instead of this fiat paper crap that is guaranteed to lose value over time ..."

Well, despite what some people believe, gold as an investment doesn't seem to maintain its purchasing power compared to fiat currency denominated investments, at least in the chosen time spans in this article. It's not the paper bits of currency that lose value, but the state of the economy and government behind the currency compared to other economies and governments. I suppose you could use Bitcoins and avoid that, but for day to day use, Bitcoins are still valued in terms of units of fiat currencies (and the suspicion by some that Bitcoins are all smoke & mirrors).

In 1831, if you had sold your one ounce of gold for the then nominal price of $19.39, invested the money in fixed income assets (i.e., bonds), and reinvested the coupons, the after-tax value of your investment today would be $3,112, or approximately two ounces of gold at today's market price.

Assuming you were more risk averse and you had sold your one ounce of gold in 1870 for the then nominal price of $20.75, invested the money in equities, and reinvested the dividends, the after-tax value of your investment today would be $371,593, or approximately 240 ounces of gold at today's market price.

http://seekingalpha.com/article/1320411-1-ounce-of-gold-and-a-decent-mens-suit