Pub: Journal of Economic Perspectives: Fall 200

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Pub: Journal of Economic Perspectives: Fall 200 The Resurgence of Growth in the Late 1990’s: Is Information Technology the Story? By Stephen D. Oliver And Daniel P. Sichel Pub: Journal of Economic Perspectives: Fall 200

Statistics Taken From: Bureau of Economic Analysis Bureau of Labor Statistics National Income and Product Accts. Consumer Price Index

Growth Calculated by 5 Inputs: Computer hardware Computer software Communications equipment Capital Labor hours

How Information Technology Is Used Offline Companies -- automated -- less paperwork -- less waste -- tighter inventory ctrl. Online Companies -- created -- niche markets -- low overhead

American Businesses Output / Labor Hr. 2-1/2% (doubled in last 25 years) Gross domestic Product 4% / yr over 1995 - 1999 Investments in IT increased 4-fold over 1995 - 1999