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Krugman's prediction (originally pointed out by the title of this HN post): "By 2005 or so, it will become clear that the Internet's impact on the economy has b
by bjornsing 13y ago
Krugman's prediction (originally pointed out by the title of this HN post): "By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's."
The most puzzling thing is that he's not far from right, in a national economics sense at least. Here's the riddle: US GDP has only increased by 25% in real terms since the year 2000. But if you took an average HN reader and sent them back there, to before the mobile phone and high speed residential broadband became widespread, they would kill themselves. How is that possible...? :)