The Coming Internet Depression (Financial Times Series) - Hardcover

"The author's argument - that an inevitable internet downturn could drag the rest of the economy down with it - is so interesting and well informed that it needs to be taken seriously, not only by people in the internet business but by anyone interested in the economy. - The Industry Standard "The prose is clear, and the author artfully places our situation in the context of the economic past, from which he draws intriguing parallels. - Daniel Akst, New York Times

The 'new economy' boom is set to become the 'new economy' bust. The optimistic vision of the future has become the conventional wisdom. The internet economy is flourishing. We live in a transformed society where e-commerce ventures rule and both knowledge and wealth are just a click away. The internet age has delivered us to the Promised Land. But is this really the case? Cracks are beginning to appear in paradise as one dot com company after another is brought to its knees. Growth cannot be sustained forever. The bubble is set to burst and we face an internet depression. Caught up within all the hype and hearsay, the overriding factor fuelling the media panic is the fact that industry and investors do not seem to be prepared for it. The Coming Internet Depression sets the record straight and asks why the high-tech boom will go bust, how bad will it be, and how to prosper regardless. History shows that periods of great technological change are inevitably punctuated by deep downturns. The opportunities for wealth are so alluring that it becomes rational for even sober-sided businesses and investors to take big chances. In the rush to take advantage of the new opportunities, spending, stock valuations and debt race far ahead of that which the economy can support. As with railroads in the 1880s and the auto industry in the 1920s, the internet has eclipsed the rest of the economy. Companies and consumers keep borrowing and spending in the belief that tomorrow will bring an even-more prosperous society, but when sales finally peak and the only way is down, the economy will crash and we will be left facing an economic depression. One-time prophet of the new economy and award-winning journalist, Michael Mandel investigates the rise of the information revolution and illustrates how those who have staked their future on the illusion of excessive optimism should now prepare for its inevitable collapse. The Coming Internet Depression explains: why an internet depression is not only possible but increasingly likely in the next few years when the internet depression is likely to start how bad the crash is likely to be how investors, workers and businesses can navigate the coming depression. Prospering during a boom might be easy but it is the ability to make good decisions during the bad years that will determine who comes out a winner in the end. Michael Mandel shows you how individuals and businesses can not only ride the storm but also reap substantial rewards through smart financial strategies. Written for investors, policy makers, fund managers, management consultants, employees, and all those interested in their economic future, The Coming Internet Depression will help you prepare and prosper while others will be struggling to survive.