Report Card for Donald Trump

[SomeGuy]

Quote:But the people producing the free stuff need income, which has to come from somewhere. You cannot feed your family on subjective value.

So we are conceding the earlier claim concerning value?  Glad to hear of it.
As for the need for income, of course, this is where the whole sideline about advertising came in.  And while giants like Facebook and Google do derive the majority of their revenue from advertising, others like Microsoft and Apple derive their from traditional sales of hardware and software.  And this only covers the big headliners.  What of the corporate spending on IT services, increased electrical consumption, routers, devices, infrastructure, etc.  You have already acknowledged that these things constitute the sort of spending on new demand that traditionally constitutes a K-wave, so why do you keep circling around to the advertising issue?

Quote:There is also the issue that the information economy cluster of leading sectors is quite a bit smaller than its predecessor. Back in 2003 I estimated it at one-third the size. Evidence of this was the relatively slow growth in the 1980's and 1990's compared to previous growth booms.  And then the growth in the cycle leading up to 2007 was positively anemic.  Growth should have been very strong as high speed internet, B2B and internet II rolled out.

Yes, but you haven't covered the extent to which this was distorted by trade policy.  Manufacturing employment stalled in the 80s and 90s here in the US, and has fallen off a cliff since 2000, even as manufacturing in East Asia set up to service US demand soared.  Or about the rise of IT services in India, again servicing the US market.  The growth in the use of H1B visas and evidence of collusion between firms in Silicon Valley to suppress wages?
Also, and I haven't read Leading Sectors in a while, but how far back are you going?  The previous couple of K-Waves coincided with a tremendous surge in population growth and the sudden availability of vast new energy supplies.  By contrast, the 19th (IT) K-wave has coincided with a decline or outright stagnation in the rate of change for both, at least here in the developed world.
I'd be interested in reading and discussing the actual work you did on this, if you don't mind.