Alan Greenspan MUST GO: Message Board

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Pastimes : Alan Greenspan MUST GO:

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To: Master (Hijacked) who wrote (237)	1/7/2001 10:04:47 AM
From: chojiro	of 494

By the same reasoning, why didn't we stop with the Model T ? Do we really need computers that store 20 gigabytes? At what point do we stop progress? I'm sure that one hundred years ago a man with a couple of strong horses couldn't ask for anything more. I think your Model T comparison is off the mark. FWIW, I think you should read this(all four pages) time.com The fact is, the New Economy has done a brilliant job over the past decade of putting high-tech gewgaws on the market and into our homes. But maybe it's been a little too brilliant. What's left to buy when you already have your SUV, your DVD and your MP3? The tech industry is learning that one of its biggest challenges is building in enough obsolescence. A key reason for the current slump in computer sales is that box makers haven't convinced consumers that the new models do much that their current PCs can't. And as Microsoft labors on its new operating system, Whistler, it's struggling to build in enough must-have features to make people feel they need to ditch Windows. Karl Marx theorized that capitalism was condemned to repeated depressions because of "cycles of overproduction." Marx may have got some of the details wrong: he thought the workers would be unable to buy goods because their wages would be continually pushed toward subsistence levels. Now it's more likely that consumers are using their well-above-subsistence wages to pay for noncommodities instead, such as travel, restaurant meals and personal trainers. But if Marx had hit the shopping malls last week and seen the heavy discounting--or looked on the Internet and seen the emergence of cut-rate sites like Amazon.com's new outlet store--he would no doubt have felt vindicated

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