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To: KeepItSimple who wrote (73876)	8/15/1999 2:17:00 PM
From: Rob S.	Respond to of 164684

Another view is that worldwide capacity for production of goods has dramatically risen and computerization and the communications revolution geometrically advance the spread and reduction of cost of technology. The recent Asian financial crisis was partly caused by excess capacity and dis-inflation: product prices plummeted and along with it the expansion bubble. The British classical economic school has largely been relegated to class-room discussion - whether there is some point at which the theory has merit, it has failed to assert itself for decades. One could argue that as the world economy grows increasingly complex and inter-connected that it is that much more vulnerable to a systemic collapse. But a prevailing school of thought holds that as the economy becomes more diversified and the barriers to the means of wealth creation more universe and accessible, that it becomes more invulnerable to catastrophic problems. An analogy would be the Internet - a collapse of eBay or any other major component, does not upset the net because it is only a fraction of the possible connections that can be made and the products and services provided can easily be replaced. IMO, the U.S. and world economies are becoming less susceptible to problems, not more so. That is not to say that there will not be fluctuations along the way. The next ten and 20 years will see incredible growth and even more incredible expectations.