Economic issues

The new information technology paradigm, based on a constellation of industries, which are among the fastest growing in all the leading industrial countries, such as computers, electronic components and telecommunications, has already resulted in a drastic fall in costs and a counter-inflationary trend in prices in these sectors as well as vastly improved technical performance. This combination is relatively rare in the history of technology and it means that this new technological system satisfies all the requirements for a Schumpeterian revolution in the economy. The author discusses economic issues in information technology