How Does The New Economy Compare?
from the not-too-well dept
Thought you were changing the world with your new economy dot com company? Perhaps you should have been born 150 years ago. A new report suggests that the overall impact on productivity of the new economy won’t come anywhere near the impact of the old economy inventions like electricity, the internal combustion engine, the chemical and pharmaceutical industries, the entertainment-information-communications industries and, my favorite: urban sanitation. Of course, when you’re starting with a very low base rate for productivity, it’s easier to increase it significantly, but it will still be fun to throw this out to those few dot coms who still claim they’re changing the world, even as they read up on how to file for Chapter 11 protection.
Comments on “How Does The New Economy Compare?”
What is new in saying this? People (including me) have been pointing this out for years. It is entirely obvious to anyone who has looked at industrial history. Of course, you wouldn’t expect someone in a startup to actually do any kind of research into history would you?