At first the fascination with old-world beauty seemed a reaction to the high-technology revolution.
Communities left behind by the high-technology revolution of the last two decades view municipal networks as an affordable means of renewing their economic competitiveness and a way to bridge the digital divide between technology haves and have-nots.
But does anyone plausibly believe the wild stock market boom of the late 1990s, which led to further capital gains tax receipts, was a consequence of the rate cut when a high-technology revolution was underway, productivity was taking off, Alan Greenspan had sharply loosened monetary policy, and a speculative bubble was soon to explode?
Moreover, these jobs happen to be the very sort that are being hollowed out by globalization and the technology revolution: high-paying, skilled, blue-collar work that cannot be outsourced or done by robots.
Proponents of the New Economy idea (almost all businesspeople and supply-side economists) argue that globalization, market-oriented reforms and the technology revolution have produced higher competitiveness and formidable (and underestimated) productivity gains.
(What constitutes high technology changes over time, but technological innovation has been the key to economic growth since the dawn of the industrial revolution).
If the sale goes through, the Softbank group intends to break the mold of Japanese banking by redirecting Nippon Credit's lending to high-risk, entrepreneurial businesses seeking to capitalize on the information technology revolution.
Companies are thinking of new ways to make money, and the information technology revolution is sending productivity growth to its highest level since the 1960s.
In the post-Cold War era, DARPA has played a key role in developing the information technology behind the so-called revolution in military affairs (RMA)—put simply, the substitution of high technology and precision munitions for troops.
Europe's economies are growing more slowly; unemployment remains relatively high; and Europe boasts few of the technology stalwarts that are driving the information technology revolution in the U.S., such as Intel intc, Microsoft msft and Cisco Systems csco.
While high technology and water don't mix well as a rule, the smartphone and tablet revolution has expanded to diving.
