Preview - Economic Change

Economic Change

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Economic Change (30:00)

Item# 10843
©1999

Between the privatization of state-owned monopolies on the one hand and advances in information technology and e-commerce on the other, European economies are undergoing drastic changes to keep up with the times. Module one of this program focuses on institutional change, as the British electricity market undergoes privatization, while module two examines technological change through the case study of the German online bookstore ABC Bücherdienst, a part of Amazon.com. (30 minutes)

Segments in this Video - (6)

1. Globalization (02:28)

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Globalization is a consequence of the technological process of the third industrial revolution. An overview of the first two industrial revolutions leads to the conclusion that today's economic situation shows disturbing parallels with earlier times.

2. Information Technology and the Internet (06:31)

The technology behind the third industrial revolution is information technology. The Internet dematerializes most retail processes as well as money itself. Globalization is a revolution, and like all revolutions, its processes are often violent.

3. E-Commerce: Book Trade (05:42)

Online and stationery retail bookstores compete for customers. Regensburg's Hugendubel bookstore competes with ABC Bucherdienst, an online service. Currently (1999), the two services serve different populations with different needs.

4. E-Commerce and Customer Databases (03:15)

Through the Internet, the whole world is a marketplace. Unfortunately, there is also no data protection, and e-commerce consumers are tracked meticulously. Banks continue to work on the safe transfer of money for Internet sales.

5. Privatization of Electricity (06:20)

In Wales, deregulation of energy resources prompts private companies to offer energy services. As a result, services and products increase in quality, prices drop, and customer satisfaction greatly improves.

6. Alternative Energy: Wind Power (02:35)

The privately owned energy supplier (SWALEC) in Wales invests in alternative energy sources such as wind power, hydropower, and energy from landfill gas. SWALEC uses its core skills in other markets and keeps its commitment to high standards in a competitive market.