Economic Friction

One of the Key concepts in the Information Economy is  "Removal of Friction".   This means essentially, that much of the time, effort and costs between a provider and a customer, are continuously reduced.  For example, if one goes to the web site of an airline to purchase a trip and travels without a ticket, the customer is interacting directly with the computer of the airline.  This is much faster and more efficient.  There is reduced cost and delay between the customer and the airline.  (See the "Friction Free Economy" by Ted Lewis)   The concept of "Friction Free"  is having a profound effect in reducing business costs.  These reductions are at the staggering level of trillions of dollars per year.  This is one of the fundamental drivers of the information economy with high wealth and high demand and prices that go down anyway.