The Information Age formed by capitalizing on computer microminiaturization advances.
This evolution of technology in daily life and social organization has led to the fact that the modernization of information and communication processes has become the driving force of social evolution.
Workers are also being forced to compete in a global job market. Lastly, workers are being replaced by computers that can do their jobs faster and more effectively.
In the past, the economic fate of workers was tied to the fate of national economies.
Data has shown that overall, technology creates more jobs than it destroys even in the short run.
Jobs traditionally associated with the middle class (assembly line workers, data processors, foremen and supervisors) are beginning to disappear, either through outsourcing or automation.
Industry is becoming more information-intensive and less labor and capital-intensive.
In the classical model, investments in human capital and financial capital are important predictors of the performance of a new venture.
The Information Age was enabled by technology developed in the Digital Revolution, which was itself enabled by building on the developments in the Technological Revolution.