To think that the new economy is over is like somebody in London in 1830 saying the entire industrial revolution is over because some textile manufacturers in Manchester went broke.
In this quote, Alvin Toffler cautions against underestimating the new economy, drawing an analogy between the textile manufacturers in Manchester going bankrupt and the entire industrial revolution being over. This quote highlights the importance of not dismissing the potential of a new economic system based on a few setbacks.
Toffler emphasizes the need to recognize the potential of the new economy and not let setbacks or failures dictate its overall success. He encourages us to look beyond the immediate challenges and consider the long-term implications of the new economy.
The quote is set in the context of the Industrial Revolution in the 19th century, where the textile industry was a significant contributor to the economy. The mention of Manchester, a major textile manufacturing hub, adds to the historical context.
Alvin Toffler was an American writer and futurist who wrote extensively on the impact of technology on society. He is best known for his book 'Future Shock', which explored the effects of rapid technological change on individuals and society.
This quote can be applied to any new economic system or innovation that faces setbacks. It encourages us to look beyond the immediate challenges and consider the long-term potential of the new economy.