“The first part of this book is dedicated to establishing a number of basic economic observations. Its overarching claim is that we are seeing the emergence of a new stage in the information economy, which I call the “networked information economy.” It is displacing the industrial information economy that typified information production from about the second half of the nineteenth century and throughout the twentieth century. What characterizes the networked information economy is that decentralized individual action–specifically, new and important cooperative and coordinate action carried out through radically distributed, nonmarket mechanisms that do not depend on proprietary strategies–plays a much greater role than it did, or could have, in the industrial information economy.”

What exactly is a clear definition of the networked information economy? I’m not sure I understand the term. I think the term implies that society has become more interconnected than before because of digital media. However looking at this whole paragraph I’m very unsure what the author is going for.