DUBLIN --CONGRESS might be at loggerheads, the unemployment rate might be too high and America's infrastructure might be crumbling -- but Americans of all political viewpoints comfort themselves with the notion that at least they lead the world in high technology and always will. It's a pleasing, convenient idea. China can't outrun the United States,...
Read MoreAn Interview with Michael Hudson for Counterpunch By STANDARD SCHAEFER During the boom of the 1990s, neoliberal economists and the financial press promoted the the high tech revolution for its ability to reduce production costs. As long as government did not interfere with markets, technology would lead to an improvement in the quality of life....
Read MoreThe Information Age's booming industry is busting our nation's long-term economy
CONVENTIONAL WISDOM has it that Silicon Valley is triumphantly leading the United States toward ever greater prosperity as the American economy shifts out of manufacturing into new information-based businesses. So far the euphoria about the New Economy has come in for remarkably little reality checking -- but there are reasons to believe that the economic...
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