Why the economy is so good

descriptionPublicationkeyboard_double_arrow_right Article 01 May 1998Publisher:Institute of Electrical and Electronics Engineers (IEEE)Journal:Computer, volume 31, pages 112, 110-111 (issn: 0018-9162,

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Authors: Ted G. Lewis;

doi: 10.1109/2.675645

Why the economy is so good

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Abstract

Modern business in the US is simply exploiting the 20 to 25 year investment in information technology that is now fueling the friction-free economy. The total information technology industry surpassed the automobile industry in its dollar impact on the US economy in 1997. The $5 trillion retail business is up for grabs as the Web makes buying and selling friction free. This burst of productivity will continue until baby boomers start to die off-somewhere around the year 2008. Consumers reach their buying peak at the age of 46, and the number of 46 year olds in the US will reach its pinnacle in 2008. But be careful. When 2008 rolls around, the US economy will need to find another engine of prosperity.

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