American growth: The Facebook economy | The Economist

American growth: The Facebook economy | The Economist: "ROSS DOUTHAT revels in the disappointing Facebook IPO and takes the opportunity to slam the economic impact of the internet. His column gives me an opportunity to push back a bit at those questioning the contribution of the current tech boom to real growth. Here's the takeaway:

Despite nearly two decades of dot-com enthusiasm, the information sector is still quite small relative to other sectors of the economy; it currently has one of the nation’s higher unemployment rates; and it’s one of the few sectors where unemployment has actually risen over the last year."

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