The Rise of the Internet
The internet is without a doubt one of mankind’s best modern inventions. Seriously, can you even imagine life without the dot-com? We definitely cannot. Considering how literally everything is dependent on the World Wide Web these days, it’s surprising what this Nobel Prize-winning economist had to say about it back in 1998.
Paul Krugman believed that the internet would become as obsolete as fax machines by 2005 and it would have little effect on the economy. Well, it’s safe to say that he was so very wrong. It’s impossible to ignore how much it has boosted the economy and how convenient it has made all our lives. The internet is here to stay!