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Modern technology allows instant, cheap communication.
Cheap communication via the Internet reduces costs and makes it easy to trade many more goods and especially services.
I use laboratory experiments to examine the effect of truthful and cheap communication in a relational contracting setting.
The iPhone transformed the cell phone from a device for cheap communication into a touchstone about the user's image.
Over the last five years Apple has adopted the GM playbook from the 1920′s -- take a product, which originally solved a problem -- cheap communication -- and turn it into a need.
Mobile or cellular telephones are a valuable and widely accessible form of quick and cheap communication and are potentially an ideal means of providing reinforcement messages for supporting lifestyle change.
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The costlier it is to process and transmit information, the more it makes sense to do things in firms; the cheaper communication becomes, the more efficient (relatively) markets will be.
Yet the costs of managing outsourced services have recently declined, thanks to cheaper communication, the standardisation of web-based tools and the speed with which companies are automating their own data services.Talking it throughBehind strategic outsourcing's growth is a realisation that a specialist may be able to provide a routine service at lower cost, and with better technology.
In every market and at every step from suppliers of raw materials to consumers of finished goods–faster, cheaper communication lowers the cost of producing and consuming.
If we want to avoid this effect of cheaper communication, they say, then we'll need ways of compensating for it – for example, by greater social investment in education to disseminate knowledge.
The technology of inexpensive communication, GPS, bar codes, cheap computing, containerized shipping, and a host of other innovations guarantee that supply chains will remain global.
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