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date: 24 September 2018

Abstract and Keywords

By the end of the twentieth century it was already clearly evident that the new leading ICT industries were firmly established as the leading sectors of the economy in the United States. Indeed, although they still accounted for a relatively small proportion of aggregate production and employment, their rate of growth was so high that they accounted for over half of total growth in the US economy in the 1990s, and gave rise to a huge financial bubble early in the next century. This article deals with the origins and definition of the paradigm concept; with the formation and collapse of the Bubble; and finally with a critique of some myths that have attended diffusion of The ICT Paradigm which were (and to some extent still are) the intellectual counterpart of the financial bubble.

Keywords: ICT industries, financial bubble, ICT Paradigm, economic sectors, US economy, production and employment

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