Cloud Computing is Utility Computing→

Ars Technica:

The foundations of the cloud were laid half a century ago. Books like “The Challenge of the Computer Utility” by Douglas F. Parkhill, published in 1966, noted that computers were getting powerful enough to provide information and services at scale to ordinary people, but that the machinery was so big and expensive that it would have to be remotely accessed. Utility computing was so named because it saw computing becoming as universal as power and water, delivered on demand and charged for in much the same way. In particular, people would no more need to run their own computing systems as they would own their own power generators or drill their own wells.

An interesting look into the history of cloud computing, as well as where it stands today.