Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (4332)	6/5/2001 5:57:56 PM
From: Don Lloyd	Read Replies (1) of 74559

CB - I read through Maurice's reply siliconinvestor.com twice and couldn't find anything to disagree with. Just a couple of things to add. It doesn't require a company making dumb things to destroy capital. The destruction of capital is also the inevitable result of productivity advances, especially technology-based ones. A factory full of perfectly good capital production equipment today becomes the target of a scrap material auction tomorrow as new technology obsoletes it. It is the suppliers of productivity enhancing equipment who benefit, and the final consumers who pay lower prices. The buyers and users of technology enhancing equipment are lucky to merely survive as they keep having to remain competitive as most advances are available to all of the competitors. Regards, Don

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