Ajit Pait uses Snopes to remind Paul Krguman of his awful, awful prediction about the internet from 1998

LOL.

Happy anniversary to this take from Paul Krugman in 1998 about the internet and how “by 2005, it will become clear that the Internet’s impact on the economy has been no greater than the fax machines’s”:

This week in 1998, @NobelPrize-winner Paul Krugman predicted that "The growth of the Internet will slow drastically. . . . By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.” https://t.co/acH8gqSLXy

— Ajit Pai (@AjitPai) June 11, 2021

It’s funny that former FCC Commissioner Ajit Pai used Snopes, too:

@OldTakesExposed https://t.co/LxWaY88bVR

— Ben Elliott (@BenHElliott) June 11, 2021

He’s as right about as often as the coyote caught the roadrunner, too:

Paul R. Krugman.

Supra-genius. https://t.co/w7zhxrhXep

— Timothy Connolly CFA (@SconsetCapital) June 11, 2021

“Listen to engineers, not economists”:

Listen to engineers, not economists. https://t.co/b0i7cb241v

— Robert Weller (@FCCTech) June 11, 2021

Some of our younger readers might have to Google this one:

Remember the fax machine? https://t.co/DhL2KBt6El

— Amit Paranjape (@aparanjape) June 11, 2021

***