Today's Economy Echoes An 1800's Depression—And That's Good

Late 1800s suffering, similar to that of today, led to brilliant advances that enriched humanity.


The coming convergence of high-definition television with virtual reality technologies and the Internet is going to create rich new media that will enable new value from social networks we cannot yet fully imagine.

As computer scientists mimic the architecture of the human brain, we are also likely to see artificial intelligence perform complex cognitive tasks that will astonish us.

In short, the parallel between the late 19th century and the early 21st century serves to remind us that, underneath our current dreary landscape, rumble the forces of invention and renewal.

Corrected on : Mark W. Davis, a former White House speechwriter, is a member of the Washington, D.C.-based White House Writers Group.