Econ Prop

The creation of the phone was a major breakthrough for the communications industry. Even though the phone had an enormous influence on the economy; economic factors in our economy played a huge role in shaping the evolution of the telecom industry to what it is today. Through the effects of Globalization, Technology, and Cultural Mindset we see the Telecom industry’s evolution from the land line phones to cellular phones and now to Voice over Internet Protocol aka VoIPUoP.

Global Competition really changed the way we do business. Today we are still chained to our phones, luckily with the introduction of the cellular phones in the 80’s and the boom in the 90’s, we have replaced their table top counter parts with mobile handsets staying connected on the go. Having a cell phone anywhere meant booming coverage maps and a cellular technologies being brought out to distant places like Africa where Pre Paid Cellular is a growing economic opportunity. Without the phone we could never have the cell phone but without economic changes we would not have created the demand for the cell phoneUoP.

Another hurdle was long distance costs, and this was tackled by VoIP technology, which allowed users to talk through their Internet Connection. Globalization problems are tackled through the implementation of new technologies, meant to help cut costs. VoIP allowed for users thousands of miles away to communicate for pennies on the dollar through widely adopted Internet Networks.

Cultural Mindset is another factor to look at. VoIP is the wave of the future. This wave would have never been fathomed without the widely adaptation of the Internet. The internet has connected us even in the most rural of areas.

The phone continues to influence our economy to this, but not through ground breaking technology but through evolutions brought forth by economic growth.