The third wave is after sources of mental labor, sources of information raw materials, and markets for information products. The third wave requires freer movement of information across national boundaries. This has helped erode further the power of the State. Because of the huge disparity in costs, trade between information economies and other economies become even more unequal. In addition to the earlier forms of wealth extraction practised during the first and second waves, new forms emerge or old forms acquire new importance.
Monopoly rents become the main form of wealth extraction.
Because of the huge disparity in costs, trade between information economies and other economies become even more unequal. As the importance of the nation-state recedes, corporations are able to purchase State assets and public properties at bargain prices. New technologies of exploitation are introduced. Advanced information and communications technologies make possible the convergence of media, entertainment, data, and communications. The application of information technology to genetic engineering and biotechnologies has transformed these fields and made them fertile areas for information monopolies, best illustrated by the patenting of life forms.