The internet has transformed into a superfluous repository of information in the present era. Consequently, this information overload is causing a deficit or a scarcity of attention. Now if you are not quite familiar with the usage of the word “attention” in the context of this discussion, it simply refers to consumption of information.
Herbert Simon has quite elegantly pointed out that, “A wealth of information creates a poverty of attention.” Thus, a need arises out of obvious causes to mine and efficiently allocate this information to its intended audience.
Attention and Economy may be two diverse terms but in the modern times is naturally amalgamating, with one becoming highly interdependent on the other. Let us consider an example to show you exactly how attention affects economy.