The Coming Internet Depression: Why the High-Tech Boom Will Go Bust, Why the Crash Will Be Worse That You Think, and How to Prosper Afterwards

by Mandel, Michael. J.

• ISBN13: 9780465043583
• ISBN10: 0465043585
• Format: Hardcover
• Copyright: 2000-09-01
• Publisher: Perseus Books Group

Summary

The economist most renowned for predicting the New Economy of the 1990s now returns-just as books like The Long Boom and Dow 36,000 are turning the idea of perpetual prosperity into conventional wisdom-to say that the dominating economic event of the next few years is likely to be a deep recession, perhaps even a depression. Michael J. Mandel begins The Coming Internet Depression by explaining why just such a depression is not only possible but increasingly likely. His explanation is based in a comparison of the present period with the 1920s: both saw tremendous growth in GDP that was largely centered on the "hypergrowth" of a single industry-automobiles in the 1920s, information technology today. When this "hypergrowth" reverts to a normal growth pattern, as the automobile industry did in 1929, the resulting overcapacity will slow down the entire economy. Mandel addresses three key questions: When will the Internet Depression start? How will we know when it's coming? How bad will it be? Finally, he shows how investors, workers, and businesses can navigate the bad times safely and prosper in the long recovery that will follow.

Author Biography

Michael J. Mandel is the economics editor at Business Week.

Table of Contents

Preface	ix
Acknowledgments	xi
Peril and Promise	1	(13)
What's New about the New Economy	14	(25)
The Last Depression	39	(13)
The Tech Cycle	52	(17)
The Long, Slow Slide	69	(15)
The Next Depression	84	(19)
Riding Out the Storm	103	(17)
Will the Internet Depression Go Global?	120	(13)
Escape from the Internet Depression	133	(15)
Regaining Our Faith in the Future	148	(5)
Notes	153	(8)
Index	161