Thursday, February 05, 2009

Economic downturn in the age of the Internet

Lucy Kellaway, the Financial Times
This is our first experience of recession in the internet age, and so far I don’t like it one little bit. You could say that the internet makes the recession more bearable as there are all those networks to help people get jobs and there is Ebay for buying things second-hand.

Yet such things are trivial compared to what the internet is doing to our confidence. The internet has created a global psyche. The web has mentally joined us at the hip, so we can no longer put our heads in the sand. If that sounds painfully contorted, it is because it is. Just as no country can decouple itself from the ailing global economy, none of us as individuals can decouple ourselves from the ailing global psyche.

Through blogs, websites and e-mails the world’s economic ills are fed to us on a drip all day long. It is not just that we hear about bad things faster, we hear about more of them and in a more immediate way. My worries become yours, and yours become mine. On the internet, a trouble shared online is not a trouble halved. It is a trouble needlessly multiplied all over the world. After reading this article, people in Australia will surely start worrying about my paint colours, too.

I think this is the strength of the Internet, its ability to give ordinary people a voice and the chance to hear the voice of ordinary people. It is changing the way we view recessions.

It is also changing the way we view wars.

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