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Why the optimism?

Author

Listed:
  • John B. Carlson

Abstract

In spite of the recent recession, hopes for the New Economy have been little daunted. Surprisingly robust productivity growth during the recent downturn provides compelling new evidence that something truly fundamental is going on. This Commentary argues that advances in information technology, and their diffusion through the economy, justify our optimism. Higher productivity growth is not an ephemeral phenomenon but one likely to persist for some time into the future, perhaps even accelerating further.

Suggested Citation

  • John B. Carlson, 2002. "Why the optimism?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Apr.
    • Handle: RePEc:fip:fedcec:y:2002:i:apr1
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