John Stossel
  • November 13, 2009 12:56 PM EST by John Stossel

    Today's Y2K

    Y2KIt's a joke on YouTube now but in the 1990s, Y2K was a big deal. Doomsday was Jan. 1, 2000, when the economy would crash; planes would crash; elevators would fall; phone lines would go dead. All this would happen because computers would cease working because their internal calendars could only handle dates through 1999.

    Farhad Manjoo writes that the US spent a bundle to combat the problem.

    (T)he United States spent about $100 billion combating the bug—around $9 billion by the federal government, and the rest by utility companies, banks, airlines, telecommunications firms, and just about every other corporate entity with more than a few computers. The rest of the world was no slouch, either; estimates for global Y2K-readiness spending range from about $300 billion to $500 billion.

    But the problem never materialized and was quickly forgotten. Manjoo sees similarities between today's massive "problems" that require billions to solve and Y2K.

    (Y2K) was big, expensive to fix, and its worst effects would only be seen in the future—just like global warming or the health care mess. What's more, from the very beginning, many wondered whether Y2K was a real problem. Though the tech consensus eventually shifted to the affirmative, there were always people on the fringes of the debate who insisted that the whole thing was overhyped (as in global warming or, more recently, H1N1).

    We’re the media. Overhyped is our specialty.

epobirs

One thing you have tokeep in mind is that while Y2K was a real problem that needed to be addressed, it was also used as a means by those of us in the IT field to get stupid companies to replace badly aging hardware and software. Some of the stuff I was replacing in 1999 was written when the 80286 was the new hotrod CPU. If we'd known ten years earlier it was going to work so well, we would have design the problematic date field into a lot more stuff.

November 14, 2009 at 6:27 pm

PaulM

I've been a computer scientist since before Y2K. I wasn't expecting widespread problems, because there was enough awareness that most systems would have been fixed. Actually, Y2K had a personal component. When a computer programmer heard of the Y2K problem, many of them would have known if their previous work had the problem. Many such systems would have been fixed by the manufacturer, although installations in the real world which were not upgraded would have been a problem. Some of the money wasted on Y2K was probably due to such upgrades costing a little more because the manufacturers knew they could increase the price a little on the items with the "Y2K safe" label. A lot of the money spent on Y2K upgrades was simply due to full replacement of outdated systems with shiny new machines with new features which improved the equipment. It was not unusual for a Y2K upgrade to also improve a factory or reduce energy requirements, so although the cost was marked as a Y2K expense this might have been spent anyway in order to gain such improvements. As for the climate alarmists, I know too much about computer models and climate science to believe the results that the IPCC likes to use. Climate models contain too much garbage and too many unknown factors to have results which can be trusted.

November 14, 2009 at 10:55 am

M.R.

Yes, this reminds me of the late Michael Chrichton's book, "State of Fear" it seems we always have to have some ominous thing to be afraid of, when I was a kid, it was global thermonuclear war, then Global Cooling, my husband was on call for Y2K, and now global warming---why do we all love to worry?????

November 13, 2009 at 3:21 pm

Ike

John, I was a working journalist in Alabama at the turn of the millennium. I recall a number of stories comparing the "tiny" amount that Alabama was spending on Y2K preparation. The state spent by a large factor less per capita than other states and the feds. "Still getting ready for Y1K" they cracked. Yet, after the fact, I don't remember anyone lauding the state for having not wasted resources. In fact, today we'd be blasted for not creating jobs to prevent the non-existent problem.

November 13, 2009 at 3:04 pm

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  • John Stossel joined FOX Business and FOX News in October 2009. His show, Stossel, airs on the Fox Business Network on Thursdays at 8 p.m. ET

    He is the New York Times best-selling author of Give Me A Break and Myths, Lies and Downright Stupidity. His "Give Me a Break" commentaries take a skeptical look at a wide array of issues, such as education, the economy, parenting, and more.

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