The Information-Technology Revolution and the Stock Market

摘要

Technological progress comes in waves. The British Industrial Revolution (1760- 1850 ushered in Cort's puddling and rolling process for making iron, Crompton's mule for spinning cotton, and the watt steam engine. The second Industrial Revolution (1890- 1930) witnessed the rise of electricity, the internal-combustion engine, and the chemical industry. The birth of information technology (IT) may herald the start of a Third Industrial Revolution.