Friday, 16 October 2009
Is the success of the internet indicitive of the world's economy?
It goes without saying that the world's economic situation is not a good one. However, many internet-related goods have made a come back, despite the recession. I recently read an article in the New York Times by Miguel Helft about how great google's third quarter results were, even better than predicted (http://www.nytimes.com/2009/10/16/technology/companies/16google.html?_r=1&ref=technology). In the article, one of the executives at Google insinuated that the success of the internet-based companies is a preamble for the success of the rest of the technological market. I simply wonder if that is a realistic expectation. Technology is most defiantly an expensive luxury, and usually produces normative goods. Normative goods are goods that are in higher demand as peoples' incomes increase. Technology is a producer of such goods. Right now, will people really be willing to spend money on ipods and kindles when some are struggling to make ends meet?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment