For a while, in the late nineteen-nineties, some of this vision appeared to be coming to fruition: as investment in information technology soared, productivity and wages both rose steadily.
Though the stock market boomed and technology soared, economist Joseph Schumpeter's rule of creative destruction still prevailed.
The expansion comes at a key time in today's job market, where unemployment looms, cities fall into despair, even as other industries – including information technology – soar.
Technology shares soared as Siemens, Europe's largest engineering firm, reported solid and better-than-expected first quarter profits, closing up 2.5%, at 84.40 euros ($124.36) in Frankfurt.
The American economy boomed as the stock market, particularly technology stocks, soared to unprecedented heights.
BankBoston purchased Robertson Stephens for $800 million in cash and stock options in 1998 as investments in technology companies soared.
TIRUCHENGODE, India — As its technology companies soar to the outsourcing skies, India is bumping up against an improbable challenge.
The Van Wagoner Technology fund soared in 1999, returning more than 200percentt and rising to more than $400 million in assets.
For most of 1998 and 1999, many stocks lagged behind as technology stocks soared and bolstered the major market indexes.
In that period, the NASDAQ index, which is dominated by technology stocks, soared by over 20%, as several Internet stocks, such as Amazon.com and Yahoo, touched new highs.
