The Communications Revolution It’s a Wired World By DAN SCHILLER

Posted on December 17, 2009

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I’m not sure about all the details but an interesting brief global overview of the political economy of ICTs

http://www.counterpunch.org/schiller12162009.html

MBG

The Communications Revolution

It’s a Wired World

By DAN SCHILLER

Citigroup bank employed 25,000 software developers and spent an estimated $4.9bn on information and communication technologies – ICT —  (exclusive of operating expenses) in 2008 – just before it had to accept a $45bn bailout from the US government. Before Lehman Brothers collapsed in September 2008, that firm ran 3,000 applications on 25,000 servers on several continents. So when the financial crisis erupted in an obscure corner of the market system’s core, there were network linkages ready to pulse its death-ray out to what we used to call the periphery. (See the IMF’s  April 2009 study, “How Linkages Fuel the Fire: The Transmission of Financial Stress from Advanced to Emerging Economies.”) …

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