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Technology Stocks : Discuss Year 2000 Issues
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To: Bill Ounce who wrote (627)12/9/1997 6:32:00 PM
From: Bill Ounce  Read Replies (1) of 9818
 
Long Boom or Slow Bust? -- illustrates the importance of a high tech infastructure in the "new economy"

feedmag.com

and thanks to Stephen Shepard, today we have some very clear places to look for signs that the times they are a changin', even as he echoes the language of yesterday's economy, writing of which sectors "drive the economy" and an economy "powered by technology and trade" which has a "speed limit" higher than before. It is, in fact, in the creases and discontinuities of machine-think that the hard evidence of the New Economy emerges.

As information technology enables ever-more rapid international capital flows, what Walter Wriston has called quicksilver capital, the discipline the markets exercise on central bankers is sharpened, quickly penetrating the worsted-wool armor of any banker bent on running an inflationary, Keynesian loose-money gambit to "stimulate" a sluggish economy.
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