The Coming Internet Depression Why The High-tech Boom Will Go Bust, Why The Crash Will Be Worse Than You Think, And How To Prosper Afterwards

Mandel, Michael J.

ISBN 10: 0465043585 / ISBN 13: 9780465043583

Published by Basic Books, 2000

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Bibliographic Details

• Title: The Coming Internet Depression Why The High-tech Boom Will Go Bust, Why The Crash Will Be Worse Than You Think, And How To Prosper Afterwards
• Publisher: Basic Books
• Publication Date: 2000
• Language: English
• ISBN 10: 0465043585
• ISBN 13: 9780465043583
• Binding: hardcover
• Condition: Very Good

About this title

Synopsis

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.

About the Author

Michael J. Mandel, the economics editor at Business Week, received the 1998 Gerald Loeb Award for Distinguished Business and Financial Journalism, the most prestigious award in business journalism, for his coverage of the New Economy. His wide range of cover stories for Business Week, including "The New Business Cycle," "The Economics of Crime," and "The Immigrants: How They Are Helping the U.S. Economy," has received national recognition and awards. Mandel holds Ph.D. in economics from Harvard University and taught at New York University's Stern School of Business before joining Business Wee