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"It’s a nifty trick. But what is it good for?" The last time Krugman said this it was about the internet. “The Internet’s impact on the economy has been no gr
by Ftuuky 9y ago
"It’s a nifty trick. But what is it good for?"
The last time Krugman said this it was about the internet.
“The Internet’s impact on the economy has been no greater than the fax machine’s….ten years from now, the phrase “information economy” will sound silly. (1997)”
- otoburb 9y agoTo be fair, this isn't the first time this quote been dredged up from the past to be used against him as it pertains to Bitcoin.[1] So while it's fun to pile onto Krugman once in a while, since cryptocurrencies are more closely related to monetary and economic concepts, he clearly feels more confident about this particular assertion. Whether he's right remains to be seen. [1] http://www.businessinsider.com/paul-krugman-responds-to-internet-quote-2013-12 http://www.businessinsider.com/paul-krugman-responds-to-inte...
- JKCalhoun 9y ago"Information economy" does sound silly. Is Apple part of the "information economy"? Is Google? Is Tesla? I'm asking, I'm not suggesting one way or another. To answer my own questions though Apple would seem to be in the smart phone business (and of course the internet is the reason we have smart phones). And Google would seem to be in the advertising business (among others). Their ads do play on the internet though. So, I don't know — information economy? Internet economy? Internet-related economy?
- deleted 9y ago[deleted]
- justinzollars 9y agowow. He can't see the future. After working with blockchain smart contracts for 6 months I'm certain he's wrong. Even if it crash's this year cool things will come.