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What is the Economic Impact of the Internet?

Via Steve Arnold’s blog:

McKinsey Measure’s The Economic Impact of the Internet
via Beyond Search by Stephen E. Arnold

“According to the Atlantic article, “The $8 Trillion Internet: McKinsey’s Bold Attempt to Measure the E-conomy,” with an $8 trillion global economy, the Internet accounted for 21 percent of GDP growth in the world’s largest economies over the last 5 years. That makes it larger than the economies of many countries.

The article states:

“As an industry, the Internet contributes more to the typical developed economy than mining, utilities, agriculture, or education. In Sweden, fully one-third of economic growth in the five years leading up to the recession came from Internet activities. For the entire G-8, the average was 21 percent. In an analysis of France since the mid-1990s, McKinsey found that the Internet created more than twice the number of jobs it destroyed.””

The $8 Trillion Internet: McKinsey’s Bold Attempt to Measure the E-conomy

By Derek Thompson

“The Internet — that 200 million-person, $8 trillion global economy — accounted for 21 percent of GDP growth in the world’s largest economies over the last 5 years, McKinsey found in a report released this week.* As an entity, it accounts for more GDP than the Spanish or Canadian economies, and it’s growing faster than Brazil. As a sector, it is now larger than these countries’ agriculture or energy industries.”

http://www.theatlantic.com/business/archive/2011/11/the-8-trillion-internet-mckinseys-bold-attempt-to-measure-the-e-conomy/247963/

Stephen

 

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Posted on: November 22, 2011, 7:30 am Category: Uncategorized

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