- The Long Cycle
- Wild Gyrations
- The New Economy: Down but Not Out
- Dot-Coms: From Deified to Demonized
- Dot-Coms Provided Many Lessons
- Internet Growth
- Early Days Yet in the Internet Revolution
- B2C Sites—Not All Failures
- The Dot-Com Model—Profits Are Essential
- Not the First Such Challenge: Radio Struggled Too
- The Future Is Bright
This chapter is from the book
This chapter is from the book
This chapter is from the book
The Future Is Bright
As the Internet economy heads into full throttle and a more mature stage of expansion commences, the bio-economy is heading into its growth phase, when hot new industries appear and mind-spinning developments occur. During the next twenty years, organic biotech will intersect with inorganic infotech, materials science, and nanotechnologies. The pace of change will accelerate and the gains will be breathtaking.
We are in the early days of this upwave in the long cycle—the innovation cycle that has boosted productivity growth and increased living standards in astonishing ways—and the best is truly yet to come. Although these technological breakthroughs are not without their problems and challenges, the U.S. and the rest of the world will benefit from them. Many people, however, are frightened by them. We turn now to a look at globalization, the spread of capitalism around the world, and the leadership of the U.S. in the technology revolution.