Information and communications technologies (ICT) are an important catalyst for globalization. By collapsing time and distance, they enable individuals and organizations to develop networks of interest that transcend national boundaries. They support the pursuit of private interests that are independent of local or community needs but, in doing so, risk insensitivity to local ways. ICTs increase the integration of production systems and markets, the speed of communications, and the velocity of capital flows with corresponding increases in complexity and volatility. In addition, by reducing the cost of search, the cost of knowledge, and transaction costs they contribute to a more "frictionless" global capitalist system which favors the swift, the well-educated, and the well-connected, while contributing to growing disparities. In the twenty-first century information infrastructures will differentiate the political and economic influence of countries, the performance of corporations, and the well-being of individuals across diverse cultural contexts. In many respects the pace of technological change and globalization are outstripping the pace of social and institutional change. Our networked world presents new challenges for the socio-technical design of complex systems, for the sovereignty of nation states, and for social cohesion in a world of growing inequalities. These are big questions, and they call for our urgent attention. The Center's April 24 conference, "Networked World: Information Technology and Globalization," will address these questions.