At 09:16 AM 07/30/2002 -0400, you wrote:
>4] To what degree has the bubble (aka "new") economy been nothing more than
>an elaborate and calculated scheme to steal money from employees and middle
>class investors, or was it more fortuitous accident of history for those
who
>got rich at every one else's expense?
ach. Was it Phineas T Barnum who pointed out that "you can't con an honest
man", or someone else? Charles MacKay's "Extraordinary Popular Delusions
and the Madness of Crowds" records exactly these sorts of suspicions
surrounding tulipomania, the South Sea Bubble and the Mississippi scheme.
If charging $300 for VA L:inux stock, or giving eToys a larger market cap.
than Toys-R-Us, were con games, they weren't exactly subtle ones. At the
end of the day, the worst you can accuse the dot.com billionaires of is
George Washington Plunkitt's epitaph "He Seen His Opportunities, And He
Took' Em".
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