Why the economy is so good

Author

Lewis, Ted

Author_Institution

Technology Assessment Group, Salinas, CA, USA

Volume

31

Issue

5

fYear

1998

fDate

5/1/1998 12:00:00 AM

Lastpage

111

Abstract

Modern business in the US is simply exploiting the 20 to 25 year investment in information technology that is now fueling the friction-free economy. The total information technology industry surpassed the automobile industry in its dollar impact on the US economy in 1997. The $5 trillion retail business is up for grabs as the Web makes buying and selling friction free. This burst of productivity will continue until baby boomers start to die off-somewhere around the year 2008. Consumers reach their buying peak at the age of 46, and the number of 46 year olds in the US will reach its pinnacle in 2008. But be careful. When 2008 rolls around, the US economy will need to find another engine of prosperity

Keywords

DP industry; economics; government policies; information technology; investment; social aspects of automation; US economy; Web; baby boomers; consumers; friction-free economy; information technology industry; investment; modern business; productivity; retail business; Computer networks; Electric motors; Home appliances; Home computing; Information technology; Investments; Microprocessors; Power generation economics; Production facilities; Productivity;

fLanguage

English

Journal_Title

Computer

Publisher

ieee

ISSN

0018-9162

Type

jour

DOI

10.1109/2.675645

Filename

675645