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Paul Krugman in 1998: Internet will have no Greater Econ Impact than FaxMachines by 2005

Gerald Celente-esque Trends Forecaster, Krugman definitely is not:

Fearless Krugman Forecasts (1998 Edition)

In 1988, Paul Krugman stepped up to the plate and told us:

The growth of the Internet will slow drastically, as the flaw in "Metcalfe's law"--which states that the number of potential connections in a network is proportional to the square of the number of participants--becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's.

As the rate of technological change in computing slows, the number of jobs for IT specialists will decelerate, then actually turn down; ten years from now, the phrase information economy will sound silly.

(ht ZeroHedge)

Aye, Nobel Idiota!

Original June 10, 1998 Red Herring (how apropos) Magazine Article: http://web.archive.org/web/19980610100009/www.redherring.com...



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What a joke

Krugman, the William Kristol of economics!

Krugman, LOL

he is wrong about the internet and fax machines. Faxes are still in use today by large amounts. and we all know how the internet is turning out. how he still is allowed on the air is amazing. but then look what is on the air, he is in good company.

The Establishment Court Jester

Krugman is such an easy target, sometimes it almost feels bad to laugh at him and cut him down ..

Wait .. what am I saying!?

Nahhh.

Have at em boys

QUESTION: how many times has Dr. Paul lost

a debate?

The answer:

www.youtube.com/watch?v=jEmKIRqz9AI

Never.

"I have heard bravery is a ghost town that's nice to visit.
Who wants to stick around and play the mayor with me?"

If you don't know your rights, you don't have any.

I am sending Krugman my old fax machine.

I hope anyone who has one will do the same.

Mine must be at least 20 years old.

Krugman, What a douche!

Natural Order

Krugman is a fraud. His prize is fraud bestowed on a fraud.

10 minutes film. How & why the Swedish central bank make you believe in them & their paper-money.

Perhaps if the Swedish Carpenters Union built homes with elastic tape measures, they could sponsor another faux Nobel Prize. Swedish carpenters could promote wealth-building schemes without actually have to build anything. You could be made to feel richer as time goes by in your ever shrinking home value. You would not even need an actual home. Just paper-drawaings would suffice.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

interesting post

thanks. Sounds like a book worth checking up on.

It must suck to be wrong all the time

When you can't add value to the marketplace, add predictions!!!

=======
RON PAUL 2012

Ask Swedish taxpayers: 'Krugman was paid w/ your money. Why?'


Swedish taxpayer paid for that faux prize. The Bank of Sweden tries to claim credibility of how economics is really a science.... Really. Said oft enough who knows? Folks might believe it. I prefer other things made in Sweden.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Nice hood ornament. Paul Krugman is nuts.

Remember when he ran away from Ron Paul?

Pandacentricism will be our downfall.

I applaud Krugman!

I applaud Krugman for being such a prolific prediction maker! I honestly hope Krugman receives Nobel Prize every year and better yet for every prediction he makes if and only if that Nobel Prize is for Nonsense.

No Nobel Prize for Economics. Twas Swedish Central Bank gift.

Swedish taxpayers unwittingly pay to anoint friends of the Swedish Central Bank a title of nobility... A pretense of nobility where there is none. "Economics, the dismal science."

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Dick Cheney has a heart. Weak albeit; but a heart none the less.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

I think this might

literally be the best prediction Krugman ever made.

Cyril's picture

In reaction to this nonsense on record, I can only say:

In reaction to this nonsense on record, I can only say:

"Told ya this loser is a complete freaking fraud."

Mr. Paul FRAUD Krugman probably still thinks there are fundamental differences between his Keynesian doctrine and plain vanilla Marxism.

Or, wait... Maybe he thinks not, actually. As he might very well be yet another grossly arrogant liar and not just a moron.

Just calling a spade "a spade", you know. Bear with me.

Thanks for the bitter laugh, OP, though.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Krugman is as outdated as a fax machine

And his opinion is as relevant as his failed economic doctrine

Can anyone find...

a Krugman prediction that turned out to be true?

If anything, feels like its

If anything, feels like its just getting started

Krugman is a strange aristocratic Luddite

A jester courting the sorcerers.

april fools, right?

.

He's enough of a fool for all 12 months...

... not just one. ;)

"If Tyranny and Oppression come to this land, it will be in the guise of fighting a foreign enemy." -- James Madison

woah, nevermind.

.

It's hilarious how wrong all

It's hilarious how wrong all these mainstream tv 'economist' are about everything.

Its like my dad ragging on my mom when she brought home our first computer in the early 90s, said it was a waste of money.

Now he cannot live without his always-connected smart phone.

HaHaHa!

Just the title of the post had me laughing.

Please give him another

Please give him another prize! The him it is at the bottom of the box...

“Any man who thinks he can be happy and prosperous by letting the government take care of him better take a closer look at the American Indian.” ― Henry Ford.

Krugman's stupid ideas are less likely to to be heeded.

That will be a benefit the economy doesn't measure.

Free includes debt-free!

Mainstream media economists

Mainstream media economists are never right about anything.

Except

Dylan Ratigan.

www.youtube.com/watch?v=gIcqb9hHQ3E

If you don't know your rights, you don't have any.

Wait, and this isnt an April

Wait, and this isnt an April fools joke? What is wrong with this man's way of thinking?
The first time I probably really used the internet was in 1995. By 1998 I could already tell it was growing by quite alot and I wasnt even in high school yet maybe not even middle school.

To climb the mountain, you must believe you can.

There's no business like show business

Imagine if Paul Krugman built houses. He would still be in business. I guess that's why he went into tv acting. There's no need to be right when you're loud.