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Politics : Ask Michael Burke
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To: Hawkmoon who wrote (87282)12/20/2000 10:25:54 AM
From: Don Lloyd  Read Replies (1) of 132070
 
Ron -

...Possibly, but it certainly doesn't account for MU's problems, does it? The credit bubble had nothing to do with the inability of the marketplace to absorb large quantities of cheap high density DRAMS made possibly by exponential advanced in technology.

That, I believe, is the primary problem right now... the rate of technological progress is rapidly exceeding the economy's ability to make use of those advances.

To the extent this is true, it represents a transfer of wealth from the companies that invest in advanced technology to their customers as prices are driven lower by competition. The investment HAD to be made, but may NEVER result in profits. At the same time, the existing capital production base is being destroyed as it simply cannot produce profitable products either.

Regards, Don
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