Telecommunications, matter, and the formation of value

An examination is presented of how basic aspects of telecommunications and information transfer require a new understanding of the concepts of commodity value and its relationship to public policy. The main focus is on the creation of value in an increasingly information-based economic environment. Determinants of economic value for information commodities are revealed in the analysis of communication channels. The investigation draws upon the general nature of telecommunications and information transfer for principles governing commodity-value formation in both broadcast media and telephone-type resources. These are contrasted with value formation for material commodities. This model has broader implications for the issue of creating information as a social value from a limited range of formats and conventions. it is shown how, at the level of social policy, the role of standard and individual choice are becoming dominant as the realities of an increasingly information-based society have their impact on the values of the culture