The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'โwhich states that the number of potential connections in a network is proportional to the square of the number of participantsโbecomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's.
Paul Krugman...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
Paul KrugmanPeople respond to incentives. If unemployment becomes more attractive because of the unemployment benefit, some unemployed workers may no longer try to find a job or may not try to find one as quickly as they would without the benefit.
Paul Krugman[D]ebt increases that didn't arise either from war or from extraordinary financial crisis are entirely associated with hard-line conservative governments.
Paul KrugmanNow, itโs true that some of the protesters are oddly dressed or have silly-sounding slogans, which is inevitable given the open character of the events. But so what? I, at least, am a lot more offended by the sight of exquisitely tailored plutocrats, who owe their continued wealth to government guarantees, whining that President Obama has said mean things about them than I am by the sight of ragtag young people denouncing consumerism.
Paul Krugman