Introduction:
    The world has been experiencing breathtaking proliferation of information over the past few decades. This information age , came with Information and Communication Technologies(ICT) , made tremendous effect on socio economic life , economy of society and how it is governed. Even we can compare these effects with Industrial Revolution’s. These effects changes the structure of Global System , how democracy is understood and managed , relative importance of components of democracy (healthy information , conscious electorate , importance of  ethics etc.)

Analysis
    Before analyzing ICT by regarding its impact and benefits on society , economy and last economic crisis and its benefits , first of all should we define what is a benefit and what conditions it satisfy? In terms of areas that we examine , the criterion of benefit must be what the subject brings to human development , human and social capital , security , economic and social development and efficiency in public and private management. Also , these benefits have effects not in the short-term but in the medium-to-long term. (we will discuss impacts of ICT on short term views and how it promotes long term decisions) Optimization of world , making a better world needs deliberately understanding of following matters:

• Social and human development
• National and specific concerns of national states (we can’t just think globally impacts of ICT , because there are national institutions in reality , their own problems and concerns should be addressed in every beneficiary concepts to make them applicable.)
• Developing technology , education , health , culture
• Making its own power sustainable 

ICT and Governance

    How a society is governed is profoundly related with information , because decision makers need a sufficient flow of information to solve problems and challenges they face. Even , we can say that entire decision making process depends on information. However , as I said , information proliferates at exponential rates so that a decision  maker faces infinite amount of information but of course not all information is relevant to any given problem and associated with it. Therefore , a mechanism to filter these huge heap information and extract finite set of data is needed. Also these infinite amount of information (means a man or a system cannot itself process it) is much more prone to errors and deterioration also intended deterioration. To satisfy requirements of decision makers and decision making structures we need more reliable , more efficient , faster , more selected and better information models. Also ICT should make available access to transdisciplinary information by decision makers. This eventually leads to need to advanced and sophisticated algorithms and information technology.
   
The relation between decision makers , decision making structures and information is two-way. Information systems with needed advanced technologies should give qualified information to decision makers whereas decision maker structure should convey its responsibility to address economical needs of info-systems. This mutual responsibility accentuates the power of ICT.However , this relationship that is between decision makers , decision making structures and ICT is not a simple one and requires very sophisticated analysis. Since everything that includes society and economy also includes human behavior and this leads eventually requirement of dealing with very high complex , mathematically chaotic and low predictable social problems. To make these problems easier , more technological developments (better algorithms , advanced technological systems) and also more profound investments are needed. Although ICT tries to solve this problem , it needs first of all to define the problem and find cons , this  , as I said , is a very difficult process. This problem make us think another big role of ICT ,  that it is the main determinant in the evolution of social sciences and decision making structures besides just affecting them. After improvement of more advances systems and algorithms , people will need the reconsideration of existing theories and methods and forming new methodologies.

    The other big importance of ICT is the connection of overspreading of information and democracy. Since what makes democracy viable are mainly a transparent and functioning market system , solving social and civic problems , a powerful structure of culture and civilization. 

   Besides these main requirements , there are other contributions that ICT makes to society and healthy decision making process:

• Transparent situation on markets and prices
• Production of new ideas and also accessing them
• A conscious and informed electorate (electorate is the main component of the system and is very important for health of democracy)
• Keeping scientific integrity and independence (is important not only for improvement of science but also keep science from biased information)
• A responsible government that knows it is observed always
• Constructing a global connection that makes further improvement for information health and ICT
• Increased social and human capital
• Connection and competition between ideas that leads to better , refined , more effective and applicable ideas and opinions
• Eliminating targeted-biased reality and replacing it with observable reality with a minimum margin error    

ICT and Media

    In our information era , as I said , world has been experiencing proliferation of information at exponential rates. In this era , media is the main channel of transmitting information.  People have used books , magazines , tapes , radio , TV to access information.   After use of PC in almost everybody in developed countries and internet , this transition reached an enormous amount.   

   The effect that comes with media’s main role in transmitting information is seen in political participation in democracies. The media is the main response channel to national as well as international challenges. The benefits that we mentioned above (new , better , refined ideas , more discussion on problems , more open society etc. ) are mainly achieved by media. Today all problems can be discussed in pluralistic and participatory manner. This gives one more dimension to democracy and makes it better. (solves some basic problems of representative form of  democracy that modern countries adopt now)  This is achieved by participation of citizens in discussions and interpretations of events and decisions that are made in states institutions.

    Unfortunately , besides all these benefits for democracy , media plays sometimes a bad and dangerous role in society because of the fact that it has tremendous power and authority in society and effect to change the decisions of society , it has also immaturity. We see , although the media , especially television and internet keeps channels open between institutions and society  , it have not yet reached the maturity and responsibility which exercise of such a big power would require.

ICT and Economy
 
     The countries and some big companies that started their Industrial Revolution earlier and became powerful economically , politically and militarily also some big companies have become progressively concentrated on production , distribution and use of information. (IBM recently sold its computer production factories to its emerging Chinese rival Lenovo and become specialized on software on climate change , environment and information process(like in the transfer or textile factories to Far East rising markets) ) This specialization (the post-modern production) guaranteed sustainable affluence gains.   

     The impact of ICT on economy is seen firstly on its effect on efficient resource allocation and marketing techniques since this gives the ability making better market plans and more optimized selling and transportation strategies.

    Economic activities are much related with good information. Therefore , widely spreading of information makes national states and companies more competitive and efficient. Information on several variables which are key to market strategies technology , marketing strategies and decision making process and quality helps  markets to intensify their economic activity. However , information gaps between states and companies makes difficult cooperation and lessen the profits.  We see this effect when we compare developed and undeveloped countries and big networked companies and small ones. Also this information results in unemployment  , misallocation of credit and big policy mistakes that damage all markets and sectors by decreasing overall competitivity but also companies directly.

    Information-based companies are better competitors in global markets. This advantage comes from mainly their experience and experiment in knowledge creation. They produce information , refine it to make better and use it practically. Also , this gain them sustainable and more profits.        

   Besides this development and growth in information , the structure of companies undergoing significant change , as I said in IBM example. Because the information system grows with information technology – software , media , consulting services ,communication technology and services and overall information services.  The information related market is now estimated about $1.2 trillion.  Also not only information systems but all sectors becomes more related with information and communication technologies. This makes structural changes and reconsidering strategies again (as I mentioned above). After all these development information became main input to company’s strategies and also their spending. In OECD countries , 50% of workforce’s task is to collect , process or transmit information.    

   All these progression , make information and information technologies as a component of economy that has a very big strategic role. Because decision making process is related with all sectors and national states themselves , people give a very high importance to this structure. And as I mentioned above decision making is very related with information. To make better anticipations , less wrong decisions and reduce
the risk decision makers take , healthy information is needed much.

    All developed countries , their economies and industrial restructuring relies heavily on information technology. In last few decades many national states made their own IT programs.
   
    All importance of ICT in economy make us think about solving problems that the world is facing now : environment , global warming , climate change , terrorism , poor people , famine etc. Because ICT is the main component of prosperity and development , developed countries should share their information and information structure with underdeveloped countries.

ICT (specifically Internet) and Last Economic Crisis

    Information and communication technologies gives very big opportunities to companies , people who works with investment banks to observe everything in financial markets , selling and buying easily with just one click. Especially Internet has done many important things for financial markets and world financial system. All people not just analysts started to access information on all level of markets. However they bring us a very dangerous things also : now the amount of money in derivative markets is $trillion 660  although total of gdp’s of countries in the world is $trillion60 that means it is ten times bigger than real money.

    Like 2000 dotcom bubble , in our current economic crisis , brilliant staff in banks made very brave selling and buying process without considering what they are doing. In our power and power of money driven systems , banks are just focused on money.  They made billions of dollars with just clicks. They got loans and with this made investments that are much more than these loans. Also they gave billions of dollars of credit to customers and other companies in mortgages and other staff by not considering how these clients and companies can pay up these mount of money.

    Not only loaners and banks but also customers didn’t things that their responsibility requires. They always get , but not think how to pay up that.  All these thing are related with internet and easiness of buying and selling with just clicks.  Because internet made it possible to be online brokerage because accessing to information is so easy.

    Because of complex structures of financial systems with many sphere made it almost impossible track the flow of money in markets. You can easily get the money with loans and buy a product or borrow to another man.

Concluding Remarks
    The world has been entering a new era that national states , companies and all institutions become more and more interdependent. All trends , economic , political , sociological and technological transcend regional and national boundaries although obstacles to protect them.
    This globalization is occurring very rapidly because ICT technologies and Internet make it possible the proliferation of information at exponential rates. Therefore , society , economy , governance , governments and decision makers are facing new challenges.
    Very powerful relationship between information , ICT and democracy is shaping the world. With the help of media , people can access information easily and affect the decisions that decision makers make.
    ICT and Internet also affects economy in many aspects. We see the results : an unprecedented growth and margin rates over past few decades (about since 1970) and also crisis: 2000 dotcom bubble and now , in 2008-2009 , very big collapse and potential economic slowdown.


References
1. www.psychology.iastate.edu/faculty/caa/abstracts/2000-2004/02AB2.PDF
2. Guvenen , O .The Emerging Information Society : A Political Challenge
3. http://www.newsweek.com/id/164588
4. http://en.wikipedia.org/wiki/Financial_crisis_of_2007-2008