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  • From: "saundrakaerubel.com" <saundrakae AT saundrakaerubel.com>
  • To: "InterNetWorkers" <internetworkers AT franklin.oit.unc.edu>
  • Subject: Re: The Coming Internet Depression (book)
  • Date: Wed, 04 Oct 2000 10:54:37 -0700


Just one economist's opinion

Noted economist befouls promise of new economy with tell
all book: In his forthcoming book, The Coming Internet
Depression, noted economist Michael Mandel argues that
many of the powerful forces responsible for the rise of
the New Economy will someday "come back to haunt us"
inspiring an economic downturn that will wreak havoc upon
the entire economy. "The process of technological and
business innovation amplifies the normal rhythms of the
overall economy," Mandel explains, noting that the funding
of innovation has become irreparably linked to the state
of the stock market. The result of this, he concludes, "is
that the Old Economy business cycle has been replaced by
the New Economy tech cycle: longer expansions, followed by
deeper and harsher recessions." Mandel follows this rather
unsettling assertion by staring deep into an abyss full of
declining innovation, soaring unemployment rates,
worthless stock options, and a souring stock market.
"Nobody has ever seen how Amazon.com, eBay, or any of the
deregulated telephone companies behave in a real tech
recession," Mandel says. "Nobody knows how an economy
built on information technology and rapid innovation will
react to a sharp downturn. We are entering uncharted
territory - and here be dragons." Mandel's vision is a
sobering, if apocalyptic, one and entirely worthy of
further consideration if only as a harbinger of a changing
public sentiment... "A study of panics will suggest to the
vigilant and cautious business man that he should be on
the lookout for a sudden change of popular sentiment after
a lengthened period of general prosperity and expansion of
credit. "-- Frederick B. Goddard, from "Giving and Getting
Credit", 1895

http://abcnews.go.com/sections/business/DailyNews/net_depression_part1.html
http://www.itulip.com/#Future

At 01:45 PM 10/04/2000 -0400, Michael S Czeiszperger wrote:
>Obviously the first way to prosper is to write a book about it :-)
> Michael Czeiszperger
> [Image] czei AT webperfcenter.com
> 919-785-2998 (Office)

________________________________________________________
Saundra Kae Rubel saundrakae AT saundrakaerubel.com
"I live in another dimension, but I have a summer home in reality"
>From The Order of the Bun
http://www.saundrakaerubel.com , mother of www.zolahayes.com





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