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An Economy Built on Smoke and Mirrors
I would be interested in your reaction to a series of posts in my blog "American Journal"
http://www.blogit.com/Blogs/Blog.aspx/American_Journal
called "While you were sleeping." This series was posted about this time last year, so you have to scroll pretty far back, but it presents the other side of many of the issues you have raised and positions you have taken in this post.
I would summarize simply by saying that one should entertain the possibility that the so-called "New Economy" is a hoax, and is unsustainable for very fundamental reasons.
Computer technology is fine desert, but it cannot be the main course in the 21st century economy.
The "New Economy," with the promise of high-paying jobs to replace basic industry and agriculture is really built on smoke and mirrors -- and financial speculative bubbles.
posted by
writersjourney
on December 4, 2005 at 3:29 AM
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