"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." -- Paul Krugman in 1998 - http://web.archive.org/web...
Jan 1, 2011
from
Benjamin Golub,
Ruchira S. Datta,
Paul Buchheit,
Michael Leggett,
Roberto Bonini,
Bret Taylor,
Tudor Bosman,
A Mitchell,
Tista Roy,
Turkish Delight,
Francesco Costa,
Cemal Buyukgokcesu,
and
Ashish
liked this
"ten years from now [in 2008], the phrase information economy will sound silly."
- Simon
What _is_ the Internet's impact on the economy? Also, were fax machines ever a big deal?
- ⓞnor
The margins in the music industry have been hurt by the internet, arguably. And faxes were a big deal in that they could cut down your mail or courier expenses.
- Andrew C (see frenf.it)
Certainly the washing machine had a bigger impact...=)
- Andrew C (see frenf.it)
Nice.
- Paul Buchheit
while the major record labels have been hurt (and i hope they go on hurting right into their graves), the actual songwriters/musicians have been LIBERATED by it.
- Big Joe Silenced
The net effect might not be that big -- moving money from one place to another, mostly. But the impact feels big if you're a moved-from business or a moved-to business.
- Bruce Lewis