A New Kind of American Prosperity

[Valin]

Via Meadia:

Walter Russell Mead

May 6 2015

 

Welcome to the new economy: in the WSJ, Geoffrey Fowler recounts his experience living off of service-based apps:

 

(Snip)

 

Apps are creating jobs and even industries—removing life’s inconveniences for reasonable amounts of money, sometimes even at a saving—because technology offers ways of doing things cheaply that in previous times couldn’t be done at all.

 

It will take time for human ingenuity to figure out the various services that can be done this way and to harness the awesome (and still-growing) power of information technology to meet the needs and wants of human beings going about their lives. Many of the new ideas and companies will fail, but many will also succeed, making our lives richer and better. Lots of people are going to get wealthy, many more will be able to make a living in ways past generations couldn’t even imagine, and a vibrant new information-based service economy will increasingly take the place of the industrial economy that no longer works very well.

 

(Snip)