I keep hearing people say we live in an 'Information Age' and we have an 'Information Economy'. My question is this - for how long does information have value and to what extent does it create 'worth'? Information is a tool and like my lawnmower is useful in creating a finished product. In the case of my lawn, the mower creates a temporary illusion of attractiveness. In the case of information, I am guided somewhat by the data in making a decision. Both the well-cut lawn and my decision are temporal. My questions are these: what does our economy produce that has somewhat of a lasting value and can one build an economic system out of things like information which may have a very short-lived value?
A friend of my says 'unless you dig something out of the ground and make something out of it you don't have an economy'. Could he be right?
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