David Leonhardt Quotes
When Bill Clinton assembled the top minds of the nation to discuss the economy in 1992, no one mentioned the Internet.
Leonhardt, David. Ours Was the Shining Future: The Story of the American Dream. Random House, 2023.
A startlingly bad prediction by a Nobel-prize winning economist particularly given it was stated in 1998 rather than a much earlier date when the potential of the Internet wasn’t already apparent. Ironically, the quote is from a Red Herring article he wrote titled “Why Most Economists’ Predictions Are Wrong” in which he asserts that most economists predictions are wrong because they overestimate the impact of future technologies. This quote is part of a longer, equally incorrect quote: “The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law' becomes apparent: most people have nothing to say to each other! By 2005, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.” See related quotes.
David Leonhardt is an American journalist and columnist. Beginning April 30, 2020, he writes the daily "The Morning" newsletter for The New York Times. He also contributes to the paper's Sunday Review section. His column previously appeared weekly in The New York Times. He previously wrote the paper's daily e-mail newsletter, which bore his own name. As of October 2018, he also co-hosted a weekly Opinion podcast titled "The Argument", with Ross Douthat and Michelle Goldberg.