On Sunday, May 20, 2001 at 15:17:06 (-0500) Andrew Hagen writes:
>I agree that "free markets" do not necessarily create price stability.
>Government plays a critical role in the capitalist system.
>
>I think you overstate the seriousness of the credit bubble in the US,
>however. The new economiy is not merely a bubble. The new economy of
>information processing has resulted in real productivity gains. This is
>an opinion of mine, but it's also what the current crop of numbers
>say. ...
Doug, what's your as-usual-well-informed-take on this?
<Creeeeeaaaeak, sound of door being left wide open for Doug to pounce,
panther-like>.
I thought I just read something in one of those trustworthy-type
outlets like the WSJ that productivity gains may have been badly
overestimated, or was I fragrant with la dolce vino yet again?
Bill
