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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 232.38

+0.1%

Dec 24 12:59 PM EST

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To: Skeeter Bug who wrote (129254)	7/27/2001 5:38:04 PM
From: GST	Read Replies (1) of 164684

SB: <would someone please explain where all this productivity is hiding? the bottom line is that computers hurt as much as helped> This is the issue that sent the market off a cliff. Ignorant people did not realize that investment in computers was not the engine driving productivity growth. Ignorant people thought that so long as vast sums were being spent on "technology" that productivity would increase and all would be well with the economy. The "bubble" was not a bubble but a sign of the arrival of the "new economy". Unfortunately, all this turned out to be complete and utter hogwash. Computers are not central to productivity growth. Most of the "technology investment" was a waste of resources. And the bubble was indeed a bubble. To think this was all Greenspans fault is silly -- but he became a willing accomplice.

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