Information Economy

Created: 2000-02-15
Last Modified: 2000-02-15
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The Underlying Technological Dynamic: Moore's Law

Source: Intel; http://www.intel.com/intel/museum/25anniv/hof/moore.htm (downloaded October 12, 1999).

 


The Price of Computers Has Fallen More than Ten Thousand-Fold in a Single Generation

 

Source: Jack Triplett (1999), "Computers and the Digital Economy" (Washington, DC: Brookings Institution); http://www.digitaleconomy.gov/powerpoint/triplett/sld001.htm

 


Information Technology Drives Productivity Growth

 

Source: Industry Standard website; http://www.thestandard.com/, using BEA and BLS data; updated by the authors.

 


Successive Schumpeterian Leading Sectors

 

 


The Volume of Semiconductor Production Is Doubling Every Eight Years

 

Source: Robert Atkinson and Ranolph Court (1999), "The New Economy Index" (Washington: PPI); http://www.neweconomyindex.org/

 


Demand for Information Processing and Data Communications Products Continues to Grow Rapidly

Source: The Economist.

 


The Build-Out of the Internet Has Proceeded at a Previously Unimaginable Pace

 


The U.S. in 1997 Had One Internet Computer for Every Twenty-Three People

 

 

Source: Robert Atkinson and Ranolph Court (1999), "The New Economy Index" (Washington: PPI); http://www.neweconomyindex.org/

 

 


The P[lain] O[ld] T[elephone] S[ervice] Network Proved Capable of Supporting Data Transfers at Rapid Speeds


The Number of Households with Internet Access Is Doubling Every Three Years

Source: Jupiter Communications.

 


According to the University of Texas, in 1998 $330 Billion of Economic Activity Belonged to the Internet Economy

Source: University of Texas Center for Research in Economic Commerce (1999), "Internet Indicators" (Austin: U. of Texas); http://www.internetindicators.com/

 

 


According to the Progressive Policy Institute, the Internet Economy Is Now at Least $135 Billion a Year

Source: Robert Atkinson and Ranolph Court (1999), "The New Economy Index" (Washington: PPI); http://www.neweconomyindex.org/

 

 

 

 


The Speed of the Information-Processing Revolution Dwarfs the Speed of the Electric-Power Revolution

 

Sources: Warren Devine (1983), "From Shafts to Wires: Historical Perspectives on Electrification," Journal of Economic History (June), pp. 347-372; Martin Campbell-Kelly and William Aspray (1996), Computer: A History of the Information Machine (New York: Basic Books).

 


Total Trade in Information Technology Is Doubling Every Six and a Half Years

Source: Department of Commerce, Bureau of Economic Analysis

 


The Dynamo Came to American Manufacturing Half a Century After Its Invention

 


The Direct Contribution of Computers to Economic Growth Has Become Large

 


Indirect Measures Show Extraordinarily Strong Productivity Growth in Retail Services

 


The World Becomes Wired


A Highly Cool but Not Very Informative Picture…

Source: Stephen Eick, reproduced in http://www.itu.int/ti/WTIM99/Documents.html/Presentations/kelly_e.pdf

 


Total Federal Spending on Research and Development Has Been Falling as a Share of GDP

 

Source: Robert Atkinson and Ranolph Court (1999), "The New Economy Index" (Washington: PPI); http://www.neweconomyindex.org/

 

 

 


In the 1980s and 1990s Measured Household Income Has Stagnated for the Non-Rich

 

 

Source: Robert Atkinson and Ranolph Court (1999), "The New Economy Index" (Washington: PPI); http://www.neweconomyindex.org/


Professor of Economics J. Bradford DeLong, 601 Evans Hall, #3880
University of California at Berkeley
Berkeley, CA 94720-3880
(510) 643-4027 phone (510) 642-6615 fax
delong@econ.berkeley.edu
http://www.j-bradford-delong.net/

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