The Internet—or more broadly the information, communications, and technology sector—is widely credited as one of the primary engines of the U.S. economy over the last two decades. Exactly how much this sector has contributed to economic expansion is surprisingly unclear as previous economic research provides no consistent answer.
But in a "new report,(
The Contribution of the Information, Communications, and Technology Sector to the Growth of U.S. Economy: 1997-2007)":http://hudson.org/research/10545-the-contribution-of-the-information-co… Hudson Senior Fellow Harold Furchtgott-Roth and Research Associate Jeffrey Li calculate that the sector accounted for approximately 20 percent of U.S. economic growth between 1997 and 2002 and nearly 10 percent of growth between 2002 and 2007. Using recently released statistics from the Department of Commerce’s Bureau of Economic Analysis, the authors also determine that the sector-spurred growth during these periods added about $582 billion and $340 billion in 2013 dollars, respectively, to U.S. economic gross output.
On September 8th, Hudson Institute’s Center for the Economics of the Internet hosted a seminar featuring Harold Furchtgott-Roth and Jeffrey Li to discuss the implications of their new report and what lessons policymakers should draw from the report’s findings.
Join Hudson Institute for a discussion of how the US can build a more resilient and flexible energetics base—one that can meet sustained demand while accelerating the development and fielding of new capabilities.
Join Hudson Institute for a conference with leaders from industry, government, academia, and defense to discuss the latest developments in the US-China AI competition.
Join House Armed Services Committee Chairman Mike Rogers (AL-03) for a fireside discussion with Senior Fellow Nadia Schadlow on Congress’s role in revitalizing America’s defense industrial base.
Join Hudson Institute Senior Fellow Ken Moriyasu for a panel with Chaim Martin, Israel’s minister of economic affairs to the United States; Aslı Aydıntaşbaş of the Brookings Institution; Soner Cagaptay of the Washington Institute; and Director of the Center for Peace and Security in the Middle East Michael Doran as they examine the logic behind each framework and what their rivalry means for US policy.
