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NY Times: Computer Age Gains Respect of Economists

Apr 14, 1999, 14:19 (0 Talkback[s])
(Other stories by Steve Lohr)

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"... 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."

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