Social Networking does provide a way to extend the old-fashioned network. Security and privacy are concerns - your firewall is only as good as the company hosting the network. They do have your username email and password. Security and the anonymous people you connect to are the big unknown. However, it is an excellent way to extend that network. The questions and answers in LinkedIn can pool a lot of "knowledge" from many users.
The degree to which social networking is used by is a good question. "Digital inequality" may or may not result - some people simply may not choose to use this technology regardless of their background, age, etc.
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