• Phil Hardwick

The Internet’s Effect on Value and the Economy

Although I am more productive than I have ever been I probably spend too much time on the Internet.  I love current events, so I could just read online news items all day.  So the Internet, like most things in life – all things in moderation, remember – can be a blessing or a curse depending on how one uses it.

Two items came to me in e-newsletters that I subscribe to that reveal the polar ends of the Internet issues spectrum.  From Harvard Business School I received this:

Working the Web Shift

The Internet employs 1.2 million people directly to conduct advertising and commerce, build and maintain the infrastructure, and facilitate its use. Each Internet job supports approximately 1.54 additional jobs elsewhere in the economy, for a total of 3.05 million, or roughly 2%, of employed Americans. The dollar value of their wages is about $300 billion or around 2% of U.S. GDP.

Source: How to Value the Advertising-Supported Internet

And from ZDNET.COM, there was this provocative article:

The Internet Devalues Everything It Touches

by Tom Foremski

Ever since I first heard about the Internet and then saw its incredible development and application across industries, I’ve been on the look out for the economic effects of this powerful platform technology. The specific economic influence I’ve been looking for is a strong deflationary trend. That’s when we will know when the Internet has truly begun to reach its potential.

Let me explain why. Read the article.


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© 2020 Phil Hardwick


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