NY Times: Computer Age Gains Respect of Economists

“… for more than a decade, most of the nation’s leading
economists have been heretics. They have not been much impressed by
the high-tech dogma… that regards the transformation of the
economy through the magic of information technology as a
self-evident truth.”

“… Yet today, even renowned skeptics on the subject of
technology’s contribution to the economy… are having second
thoughts. Productivity growth has picked up…”

“… At more and more companies…, Internet-based networks
are… streamlining the mundane chores of business life…”

“… business-to-business commerce over the Internet is
projected to jump from $48 billion in 1998 to $1.5 trillion by
2003, according to Forrester Research Inc. During the same period,
the research firm estimates that consumer sales over Internet will
rise from $3.9 billion to $108 billion.”

Complete story.