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The optimistic vision of the future has become the conventional wisdom. The internet economy is flourishing. We live in a transformed society where e-commerce ventures rule and both knowledge and wealth are just a click away. But is this really the case? Cracks are beginning to appear in paradise as one dot com company after another is brought to its knees. Growth cannot be sustained forever. The bubble is set to burst and we face an internet depression.
About the author
Michael Mandel is economics editor of Business Week. In 1998 he received the Gerald Loeb award for distinguished business and financial journalism - the most prestigious award in business journalism - for his coverage of the New Economy. Michael holds a Ph.D in economics from Harvard University, and taught at New York University's Stern School of Business before joining Business Week.
Summary
The optimistic vision of the future has become the conventional wisdom. The internet economy is flourishing. We live in a transformed society where e-commerce ventures rule and both knowledge and wealth are just a click away. But is this really the case? Cracks are beginning to appear in paradise as one dot com company after another is brought to its knees. Growth cannot be sustained forever. The bubble is set to burst and we face an internet depression.
