Undoubtedly, Internet technology will change the way we live, work, communicate and do bus

iness. But beware of those who proclaim(声明)this to be a New Era of profitability. As in the so-called New Eras of the past brought on by earlier technological breakthroughs -- this one carries the seeds of its own destruction. The phenomenal growth of Internet businesses is already fueling a Klondike-style. gold rush, with far too many diggers looking for far too little gold. Economics teaches us that it is hard to become an upstart with a basically free commodity. Think of ice in the Arctic,sand in the desert, seawater in the ocean or, for that matter, the seemingly (表面上)unlimited "hot air" on the Net.

In the 20th century, the proliferation of cars, radios, movies, televisions, mass retailers and computers all inspired a sense that we had begun a New Era. Each breakthrough promised new fiches and unprecedented prosperity for the innovators. But in the long run, they always failed to deliver to investors the expected rewards.

Why the letdowns？ In part because every great innovator invariably attracted great imitators,who competed with the original and eventually depressed his "excessive" profit margin by commoditizing the invention. Furthermore, great inventions have always been followed by greater innovations (创新), which, through the process known as creative destruction, render the previous new technology obsolete. And when inventions become vital to the economy, they are frequently brought under the control of governments via regulation, nationalization and, in extreme cases, expropriation.

Take the Erie Canal, which was completed in 1825. Its success led to the great American canal boom of the 1830s. It ended just a few years later in a tremendous failure, as most of the other canals failed to make money. The Erie, too, began to suffer from competition, first from railroads and, eventually, from trucks. In the end, the railroad industry -- which helped create an unprecedented industrial boom -- proved to be disastrous for most investors. By 1895, most U. S. railroads had to be restructured.

Now familiar technologies like cars, radios, cash registers and mainframe. computers were all at some point new and revolutionary. But the spread of the technologies led inevitably to the demise of their creators' "excessive" profits, as each became just another commodity, Don't think for a minute that the Internet will be any different.

第 22 题 It is implied in the passage that_____________

A．the growth of the Internet business is too fast

B．the spread of a new invention can make people live better

C．most Internet companies are unlikely to be out of business

D．some survived Internet companies can achieve some meaningful earnings