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Build it and they will eventually come. Bill Martin, chief economist of UBS Asset Management’s London-based Brinson Partners, points out that falling prices for info technology have predictably led to rising volumes since at least as far back as 1971. Paul A. David, an economist on the faculties of Oxford and Stanford universities, thinks there are still giant opportunities for gains in productivity and consumer welfare from electronic commerce between businesses, from cheaper and better information appliances, and from telecommuting. “If the current technological wave does represent a third Industrial Revolution, the upturn in productivity growth could last for a couple of decades or more,” write London-based economists Darren Williams and Richard Reid of Schroder Salomon Smith Barney in their new report, Back to the Future.

The main idea of the paragraph

According to some economists, the New Economy will stay for quite a while, thanks to productivity increase and expanding consumers’ spending resulting from e-commerce, cheap information appliance, and telecommuting.

根据一些经济学家的观点，由于电子商务、信息设备和通讯带来的生产率的提高以及扩大的消费，新经济还会持续相当一段时间。

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