In an increasingly fast-paced world, will recessions be short-lived?
An article titled "The Economic News Isn't All Bleak" in the Wall Street Journal caught my attention today. Information technology (as Ray Kurzweil has pointed out) has been improving exponentially for some time now. Is the economy an information technology? Perhaps it is. If so, will we see a surprisingly fast recovery? I think it's possible:
And yet, if things came to a halt more quickly than ever before, they could also restart more quickly than ever before. This is not to say they will, only that the possibility is more than marginal.
I'm hopeful that after correcting the wrongs that have taken place over that past 6 years or so, we might see something amazing.
