Chapter 17. A Look Ahead

As I write this chapter, we are in the midst of a global economic crisis that, since mid-2008, has dramatically affected the economies of all developed countries. These unusual economic circumstances, not seen in recent memory, provide an opportunity to question the strength of the Google model and its ability to weather an economic recession.

Many people remember the economic downturns of the early 1990s and early 2000s, but since the 1930s and the Great Depression, many other recessions have occurred. The National Bureau of Economic Research (NBER), which keeps track of such economic events, has identified a dozen recessions in the United States alone. These crises are more or less serious and deep, but all share certain ...

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