The first was in the 18th century, with water power, textiles, and iron. In the mid-19th century came steam, rail, and steel. The turn of the 20th century brought electricity, chemicals, and internal combustion. Fifty years later, it was electronics, aviation, and mass production. The current revolution is based on semiconductors, fiber optics, genetics, and software.
Information technology counts for so much because it is so crucial to interactions between people.
That would represent a potential increase in productivity of an additional 27 percent. The combination of public surplus and private investment offers us the time of our lives in which the economic upturns will be longer and stronger, and the downturns shorter and shallower. Send your comments to him by clicking here.