It was the West’s greatest party. Not even the 1997 financial crisis in East Asia could stop soaring stock prices or the flood of money into Silicon Valley. The “new economy” of e-commerce was all the rage. Pundits and economists alike were eager to prophesize a glorious future. The Internet would reach every corner of the Earth, destroy trade barriers, open new markets, and accelerate globalization. The euphoria seemed endless.
http://www.forbes.com/sites/timreuter/2013/10/25/the-promise-of-silicon-valley-and-the-perils-of-big-government/