A Commentary Reflection on "Economics of Information Technology" by Hal R. Varian

Research Link: http://people.ischool.berkeley.edu/~hal/Papers/mattioli/mattioli.html

Reflection:

The rise of Information Technology have been successful in the world's economy during the 1990's up until now. Technologies are rapidly booming throughout the world including the Internet, digital gadgets and the likes. These have been a very important part of an international development and progress.

Upon the study of Varian, he significantly gave importance on network and systems effect, personalization of products and prices, and economics of scale. Moreover, as in general terms, his research is about how IT have gave effect to modern economy. With his research paper, the value of IT in our international industry have been increasing continuously after each and every year since the boom of the world wide web or the Internet. Finally, he concluded that technologies vary in different aspects of the world's economy but nevertheless and undeniably that IT is our key factor for the worldwide progression in terms of the balance of Technology and Economics.

For his research, I highly agree upon his significant citing and studies about ITs stand in the economy. As of today (year 2008), IT is the major proponent of each industry throughout the globe. IT can be seen in department stores (POS system and automated machineries), groceries, government agencies, business firms and even in bakeries. IT is everywhere. It will bring us to infinite evolution.

Reference:Hal R. Varian, "Economics of Information Technology", University of California, Berkeley, July 2001, Revised: March 23, 20003, http://people.ischoool.berkeley.edu/~hal/people/hal/papers.html