If you want to learn as much as possible about economics from just one article, read Friedrich A. Hayek’s “The Use of Knowledge in Society,” published in the September 1945 issue of The American Economic Review.First, no other article explains the economic problem as clearly. Today, information society has transformed various facets of our life such as the fields of business, education and communication just to mention but a few. INFORMATION SOCIETYIncreased reliance on activities directly associated with the production, distribution, and utilization of information has led to characterizing many advanced countries of the world as information societies. When we speak of the impact of technology on society, we always talk about the positive effects of technology and about how technology has made life easy. Impacts of Information Technology on Society in the new Century 1 Introduction In the past few decades there has been a revolution in computing and communications, and all indications are that technological progress and use of information technology will continue at a rapid pace. Copper - A Metal Used Through The Ages. We talk about the Internet as an information resource and a communication platform and conveniently ignore the fact that an overexposure to it leads to Internet addiction. Hospital Information System that is used can be stored in a centralized patient database. What is the problem we wish to solve when we try to construct a rational economic order? Within the benchmark of the World Summit on the Information Society (WSIS) there are two terms that have occupied the scenario: information society and knowledge society, with their respective variants. The impacts of information society are profound. 1.3 Institutions Founded by Society: It is for the purpose of discharging this important responsibility that society has, over a long period of its existence, founded various institutions. Information systems in the economy and society. But, although the benchmark imposed usage of the former, from the beginning it caused disagreement and no single term has achieved a consensus. Impact of Information Technology on Society The data industry contains all computer, communications, and also electronics-related organizations, such as hardware, applications, and solutions. Copper was one of the first metals ever extracted and used by humans, and it has made vital contributions to sustaining and improving society since the dawn of civilization. On certain familiar assumptions the answer is simple enough. In the 21 st century almost all organizations use Information and Communication Technologies to efficiently manage their operations, to help managers make better decisions and achieve competitive advantage, and to facilitate seamless internal and … Management Information Systems (MIS) focus on the use of Information and Communication Technologies (ICT) in managing organizations. Copper was first used in coins and ornaments starting about 8000 B.C., and at about 5500 B.C., copper tools helped civilization emerge from the Stone Age. Completing tasks using data technology leads to rapid processing and data freedom, in addition to enhanced reliability and ethics of processed data. In fact, the use of information technology the computer is programmed to culture and analyze bacteria, viruses, and other infections agents to automatically detect and identify a disease thus enabling the hospitals and laboratories to begin treatment. Along with the global transportation infrastructure, network-based information systems have been a factor in the growth of international business and corporations.A relationship between the deployment of information systems and higher productivity has been shown in a number of industries when these systems complement other corporate resources. If we possess all the relevant information, if we can start out from a given system of preferences, and The Use of Knowledge in Society .