--- title: "Industrial vs information age; information as wealth" subject: "Technology, Environment and Society" chapter: 1 key: "semester_7/technology_environment_and_society:industrial-vs-info-age-wealth" source: https://www.bctengineer.com/q/semester_7/technology_environment_and_society/industrial-vs-info-age-wealth site: BCT Engineering --- # Industrial vs information age; information as wealth Technology, Environment and Society · Chapter 1: Technology - Asked in: 2076 Chaitra, 8 marks; 2076 Asoj, 8 marks (asked 2 times) - Video: [Three different ages in Centuries , Agrarian Age, Industrial Age and information Age, Why to Learn](https://www.youtube.com/watch?v=khjKBWEs1Vo) — ALI AKBAR REAL MENTOR - AARM - Answer checked by Claude Opus 5.5 (high effort) on 2026-10-14 - Page: https://www.bctengineer.com/q/semester_7/technology_environment_and_society/industrial-vs-info-age-wealth - Whole chapter: https://www.bctengineer.com/md/semester_7/technology_environment_and_society/chapter-1 ## Question Explain the differences between Industrial age and Information age. Also explain knowledge (information) is power and wealth. ## Short answer The industrial age relied on capital, machines, and fossil fuels for mass production by blue-collar workers in centralised factories. The information age uses knowledge and digital technology, with knowledge workers in networked, flexible settings. Knowledge is power and wealth because it enables innovation, market control, and income from intellectual property, data, and skilled services, as seen in tech giants. ## Answer The **industrial age** (about 1760 to 1970s) was the period in which machines, factories and fossil fuel energy were the main source of production and wealth. The **information age** (from about the 1970s, with the microprocessor, computers and the internet) is the period in which information and knowledge, processed by digital technology, are the main source of production, power and wealth. #### Differences | Basis | Industrial age | Information age | |---|---|---| | Main resource | Capital, machines, raw materials, coal/oil | Information, knowledge, data | | Main technology | Steam engine, electricity, assembly line | Computer, internet, mobile, AI | | Workers | Blue-collar, manual, semi-skilled | Knowledge workers, highly skilled | | Production | Mass production of standard goods | Customised products and services | | Organisation | Hierarchical, centralised factories | Flat, networked, decentralised | | Work place | Fixed factory, fixed hours | Anywhere, remote and flexible work | | Communication | Letters, telegraph, print media | Email, social media, real-time | | Source of power | Ownership of land, factories, capital | Control of information and networks | | Market | Local / national | Global, online | | Main sector | Secondary (manufacturing) | Tertiary/quaternary (services, IT) | #### Knowledge (information) is power and wealth In the information age, the person, company or nation that has the right information at the right time can make better decisions, innovate faster and control markets. **Information is wealth:** - The world's most valuable companies (Apple, Microsoft, Alphabet/Google, Amazon, Meta) earn mainly from software, data, patents and platforms, not from land or heavy machinery. - Knowledge creates **intellectual property** (patents, copyrights, software) that can be sold again and again at almost zero extra cost. - A skilled software engineer in Kathmandu can earn foreign currency by outsourcing work without any factory. - Data about customers is used for targeted advertising and product design, generating huge profits. **Information is power:** - Governments with better intelligence and cyber capability gain political and military advantage. - Market information (prices, weather forecasts) lets farmers sell at the right time and place. - Social media and access to information empower citizens to question governments (Right to Information Act, 2064 in Nepal). - Knowledge of new technology lets a company dominate a market; lack of it makes a company fail (e.g. Kodak lost to digital cameras, Nokia to smartphones). - Countries that lead in research and technology dictate global standards and trade. Hence, in the information age, **education, research, data and digital infrastructure** have replaced land and machines as the main sources of power and wealth. For Nepal, investing in IT education and internet access is the way to benefit from this age. ## Check yourself The answer's key points as multiple-choice questions, with the correct option and why. 1. What is the main resource of production in the information age compared with the industrial age? A. Coal and oil instead of information B. Land instead of data C. Information and knowledge instead of capital, machines and raw materials D. Machines instead of knowledge Answer: C. Industrial age wealth came from capital and machines; information age wealth comes from information, knowledge and data. (Key point: Main resource) 2. Which pair correctly describes the information age? A. Hierarchical factories and fixed hours B. Flat, networked organisations and remote, flexible work C. Mass production of standard goods and blue-collar workers D. Local markets and print media Answer: B. The information age has flat networked organisations, anywhere work and customised products. (Key point: Organisation and workplace) 3. Why is knowledge a source of wealth? A. Intellectual property can be sold repeatedly at almost zero extra cost B. It requires heavy machinery C. It cannot be sold D. It loses value when shared Answer: A. Patents, copyrights and software can be sold again and again at almost no extra cost. (Key point: Information is wealth) 4. Which example shows that lack of information leads to failure? A. Apple selling software B. Right to Information Act 2064 C. Farmers using weather forecasts D. Kodak losing to digital cameras and Nokia to smartphones Answer: D. Kodak and Nokia failed because they did not adapt to new technology knowledge. (Key point: Information is power) ## Related in Technology, Environment and Society - [Knowledge and characteristics of information age](https://www.bctengineer.com/question.md?key=semester_7%2Ftechnology_environment_and_society%3Aknowledge-info-age-characteristics) — Technology, Environment and Society, chapter 1 - [Compare industrial age and information age](https://www.bctengineer.com/question.md?key=semester_7%2Ftechnology_environment_and_society%3Acompare-industrial-info-age) — Technology, Environment and Society, chapter 1, asked 2× - [Characteristics of agriculture, industrial and information age](https://www.bctengineer.com/question.md?key=semester_7%2Ftechnology_environment_and_society%3Aagriculture-industrial-info-age) — Technology, Environment and Society, chapter 1 - [Information is wealth and power](https://www.bctengineer.com/question.md?key=semester_7%2Ftechnology_environment_and_society%3Ainformation-wealth-power) — Technology, Environment and Society, chapter 1 - [Information age characteristics and unmasking social problems](https://www.bctengineer.com/question.md?key=semester_7%2Ftechnology_environment_and_society%3Ainfo-age-unmask-problems) — Technology, Environment and Society, chapter 1 - [Information age and digital technology against COVID-19](https://www.bctengineer.com/question.md?key=semester_7%2Ftechnology_environment_and_society%3Ainfo-age-covid-digital) — Technology, Environment and Society, chapter 1 ## Related in other subjects - [Knowledge management vs expert systems](https://www.bctengineer.com/question.md?key=semester_8%2Finformation_system%3Akm-vs-expert-systems) — Information System, chapter 4 - [Declarative vs procedural knowledge](https://www.bctengineer.com/question.md?key=semester_6%2Fartificial_intelligence%3Adeclarative-vs-procedural-knowledge) — Artificial Intelligence, chapter 4, asked 4× - [Knowledge vs learning, acting humanly](https://www.bctengineer.com/question.md?key=semester_6%2Fartificial_intelligence%3Aknowledge-vs-learning-acting-humanly) — Artificial Intelligence, chapter 1 - [Types of power supply system for industrial plant](https://www.bctengineer.com/question.md?key=semester_6%2Findustrial_power_distribution_and_illumination%3Aindustrial-supply-system-types) — Industrial Power Distribution and Illumination, chapter 1, asked 2×