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Published:August 13th, 2011 09:42 EST
Society and Economy are Links of The Same Chain

Society and Economy are Links of The Same Chain

By Abhishek Kumar

Society fosters economy and economy in turn, fosters society. Though the intensity of linkage between the two studs are undoubtedly firm, the alignment of the chain varies. The cascading effect of either an up gradation or a down gradation, is a trait of this bond.

Society has seamlessly attempted to align this system in a progressive direction. For this, many instruments have been tried out. Some targeting the economy, some on society, some on both and some on the other links.

One such instrument has been communication and information technology. Starting from the hick level of training pigeons for serving as messengers, to taming the lightning fast invisible magnetic waves, society has been ever evolving with it.

The Internet, mobile services and satellite services are all around us as we think of information technology today. Though these systems have been with us for more than three decades, the recent developments enabling their smooth interconnectivity and interface has published the usp of the technology.

World economies today could never have been so interconnected without this medium.

Be it banking, agriculture, mining, service industries, manufacturing sectors, the health sector or even scientific researches; information technology (IT) either has an in-office or out-office or applications in both of them.

It is easily to understand that no sectors of an economy operate in vacuum. They do have to specifically connect themselves with the people at large and the sectors besides them. The role of IT is ubiquitous.

The ease of connectivity has offered and encouraged the people at large to carry out economic participation and transactions with the flick of a finger!

Satellite services offering point to point navigation enables economic, efficient, dependable transport of goods and people. Advanced weather prediction technologies are words of wisdom to farmers.

Nevertheless, the impact on economy does replicate its occurrence on social conditions owing to its forward and back linkages with it. It bears both a direct and indirect impact on society.

Social networking sites and e_media serve as an immediate mentor of the social mood. A person is capable of being connected with each and every stone of his life journey and this certainly empowers him/her with a great social security.

The real-time coverage of an event from a small hamlet to the happenings on the other side of the globe by e_media, has shrunk the globe to a "global village"; thus increasing the sense of belongingness and hence encouraging mass participation for any social cause.

Furthermore, communication technology as a helping hand in escalating an inclusive economy has indeed upgraded the economic conditions of the masses; and an economically prosperous society is most likely to reflect a happy state of mind.

IT, however, like other instruments capable of breeding prosperity, does have its own malice.

Fake e_transactions, fraudulent cash transfers, privacy theft, black marketing, cyber crimes, depleting social hierarchy, illicit pornographic and s(e)xual marketing have certainly created a measure of insecurity among the society, and are thus matters being continuously debated. But it must not be forgotten that these mischievous acts should not be considered a drawback of the growth in IT, they are just the misuse of this benevolent tool.

Last but not least, a society`s economic and social condition can only be wisely assessed if each and every characteristic of it is precisely accounted for, thus the communication tool has to be an indispensable medium.

Abhishek Kumar writes about information technology from Patna, Bihar, India