The real question of "Info Revolution" is not wheither it generates an accelerated growth rate for a few years, but wheither it changes the relations of production, or social relations. I think there is some evidence in favour but that it is inconclusive. And certainly is something that can only be judged in a longer time frame. Rod Hay [EMAIL PROTECTED] The History of Economic Thought Archives http://socserv2.mcmaster.ca/~econ/ugcm/3ll3/index.html Batoche Books http://www.abebooks.com/home/BATOCHEBOOKS/ ----Original Message Follows---- From: Doug Henwood <[EMAIL PROTECTED]> Reply-To: [EMAIL PROTECTED] To: [EMAIL PROTECTED] Subject: [PEN-L:8165] Re: information revolution? Date: Tue, 22 Jun 1999 12:00:41 -0400 Jim Devine wrote: >from SLATE magazine's "today's papers" round-up (by Scott Shuger): > >USA TODAY >leads with a Commerce Dept. study coming out today concluding >that digital business companies are driving the nation's economic growth. >The study states that computer and communication hardware, software, and >services, although only accounting for 8 percent of the U.S. economy, have >contributed more than a third of its growth since 1995. This sector, says >the study, is, thanks to its rising quality and falling prices, controlling >inflation too.< > >Lawrence Summers [or his ghostwriter] minimizes this stuff in the passage >exerpted by Doug. But it's been several years, so maybe the "inforev" is >kicking in? Are they using "real" growth here? Given the big drop in hardware prices, small nominal growth can turn into giant real growth when deflated (or, in this case, inflated). Doug ______________________________________________________ Get Your Private, Free Email at http://www.hotmail.com
