Economist Manuel Castells is questioning
January 3rd, 2000Economist Manuel Castells is questioning the wisdom of allowing a global economy to run completely automated and unregulated over the Internet. In his view, a completely “wired” global economy will lead inevitably to turbulence — rapid devaluations of tech stocks, for instance — that will prompt some countries to shut down technology innovation. For a global economy to work, Castells argues, it needs global regulation. But the Net may just make that regulation impossible.