Entrepreneurship activity in the United States declined last year; strong rebound expected

Ahh, I would rather argue that 'Ages' are judged by who composes the ruling class not the techonology that precedes the era...The political difference is that during the Industrial Era the massive capital investments were in factories that could not be moved and thus were open to eploitation of those who worked them. In the Information Age, a computer and a cell phone are the 'tools' of the economy the way the factory and mass production were to the Industrial Age. The politics that defined the past 140 years are no longer relevant.

The political difference is that during the Industrial Era the massive capital investments were in factories that could not be moved and thus were open to eploitation of those who worked them. In the Information Age, a computer and a cell phone are the 'tools' of the economy the way the factory and mass production were to the Industrial Age.

It's a common, arrogant, egotistical and myopic misperception of Nintendo Generation Information Age control freaks that sophisticated manufacturing technology is readily transferable and operable by unskilled monkeys. Their judgement has been hopelessly crippled by Hollyweird enviro-nut extremist propaganda.

It's not transferable; thats the problem with Industrial Age.
who needs the headaches?

WEALTH: The net ownership of material possessions and productive resources. In other words, the difference between physical and financial assets that you own and the liabilities that you owe. Wealth includes all of the tangible consumer stuff that you possess, like cars, houses, clothes, jewelry, etc.; any financial assets, like stocks, bonds, bank accounts, that you lay claim to; and your ownership of resources, including labor, capital, and natural resources. Of course, you must deduct any debts you owe.
VALUE ADDED: The increase in the value of a good at each stage of the production process. The value that's being increased is specifically the ability of a good to satisfy wants and needs either directly as a consumption good or indirectly as a capital good. A good that provides greater satisfaction has greater value. In essence, the whole purpose of production is to transform raw materials and natural resources that have relatively little value into goods and services that have greater value.
SERVICE: An activity that provides direct satisfaction of wants and needs without the production of a tangible product or good. Examples include information, entertainment, and education. This term good should be contrasted with the term good, which involves the satisfaction of wants and needs with tangible items. You're likely to see the plural combination of these two into a single phrase, "goods and services," to indicate the wide assortment of economic production from the economy's scarce resources.

Wealth is created only by engaging in value-added activities. By the same token, Service sector activities do not create wealth, they merely transfer, redistribute and eventually dissipate wealth as consumption. Thus, as value-added activities move offshore and the U.S. labor force shifts to the Service Sector, wealth is dissipated, not created. And the U.S. standard of living declines as a result.

I agree, however, the value-added of the Information Age is a radical reconstruction of the economy that makes it much more responsive to changes in market conditions. There is simply trillions and trillions of dollars to be 'saved' in automating business processes (off site sales rep to plant floor, for example.)

While not inovation and rather application, the process by which we learn to do things exponentially 'cheaper' has 'value.'

the value-added of the Information Age is a radical reconstruction of the economy that makes it much more responsive to changes in market conditions.

Information is not in and of itself "value-added", it merely enables value-added processes to be utilized more efficiently. To create wealth, one must still engage in the ownership/operation of material-based productive resources. i.e. -- the "Industrial Revolution" remains intact as the predominant economic force, not the "Information Age".

"untaxable barter economy " you're too late, the government already has tax laws from 20 years ago to tax your barters. Your are suppposed to report the value of these on form 1099!

How long has "day trader" been in the vernacular, and already they have a special tax considerations for it. I would have to believe that congress will find a way to tax these guys just as soon as there are enough of them to catch its attention. Too bad congress can't move as fast on anything else. If congress ever bans unsolicited junk e-mail, I might be able to see them as something other than tax collectors. While they are at it, force broadcasters to use the same volume during commercials, damnit.

Similarly, while the improved communications of the "Information Age" may precipitate social change, the economics of high-tech manufacturing are merely refinements of the Industrial Revolution.

You might be on to something there. Someone once argued that we have merely added electronics to German weaponry and developed helicopters instead of tanks for blitzkrieg. The company I worked for sold a couple web apps that basically automated all business functions. Pretty cool stuff, but you still need to be moving physical goods for the most part. When amazon.com sells ones and zeros instead of books and CDs, we will know the revolution has come. I think it will take another generation to make that jump if it is even possible.

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