And communications is the foundation of culture and society. The communications revolution is connecting all these things together to make a network which can transmit information very easily. Anything that can hold an electronic chip will process a bit of information. A head of lettuce in a grocery store will have a tag on it displaying the price, which will change by the hour depending on the weather in California or the exchange rate of the peso. This dynamic system fully encompasses all the economic information that is being generated.
Money is a type of information.
This e-money is surrounding us, not just floating through our wallets. Instead of a single bank, we're going to have a billion bankettes and tiny smart cards in our pockets. Primary among the rules for this new economy is the law of increasing returns. The law of decreasing returns might be true for finite resources but the network economy operates on ideas and information, which are infinite. The first fax machine was worth zero.