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Article posted Apr 02 2013, 1:02 AM Category: Economy Source: DailyPaul Print

Paul Krugman in 1998: Internet will have no Greater Econ Impact than FaxMachines by 2005

by AnCapMercenary

Gerald Celente-esque Trends Forecaster, Krugman definitely is not:

Fearless Krugman Forecasts (1998 Edition)

In 1988, Paul Krugman stepped up to the plate and told us:
The growth of the Internet will slow drastically, as the flaw in "Metcalfe's law"--which states that the number of potential connections in a network is proportional to the square of the number of participants--becomes apparent: most people have nothing to say to each other! 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.

As the rate of technological change in computing slows, the number of jobs for IT specialists will decelerate, then actually turn down; ten years from now, the phrase information economy will sound silly.
(ht ZeroHedge)

Aye, Nobel Idiota!

Original June 10, 1998 Red Herring (how apropos) Magazine Article:

Latest Economy
- Truck Vendors Must Ask Permission From Competitors to Do Business
- Uber's Peaceful Revolution
- Failure to Launch
- Federal Government Pay Exceeds Most Industries
- Right Now There Are 102.6 Million Working Age Americans That Do Not Have a Job
- Canada Wants To Cut Price Of 'World's Most Expensive Drug'; US Manufacturer Sues To Stop It
- That $750 Generic Pill Is a Pure Artifact of Regulation
- Shopping for Soulmates

Comments 1 - 2 of 2 Add Comment Page 1 of 1

Posted: Apr 02 2013, 8:12 AM

20934 Ha! Good one.

Posted: Apr 02 2013, 12:02 PM

75110 Boobs are great where ever you see them.

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