The computer, like the steam engine, produced an economic revolution, and for precisely the same reason: it caused a collapse in the price of a fundamental input into the economic system, allowing that input to be applied to an infinity of tasks that previously had been too expensive or simply impossible.
—John Steele Gordon, An Empire of Wealth: The Epic History of American Economic Power
« Interest rate inversion is deepening | Main | Concord in Seattle, Part 2: How to ignore the needle in the haystack »
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d83451c0c869e200d834cfa15b53ef
Listed below are links to weblogs that reference FQ.06.50: Favorite Quote for This Week:
Comments
The comments to this entry are closed.
Popular Posts
Recent Posts
- Two surprises: China doesn't own us; and the debt burden is relatively low
- The payroll tax holiday: Throwing FDR under the bus
- Class warfare can be good for us
- Balanced Budget Amendment: Why it's a bad idea
- How the Democrats and the Tea Party botch Reagan's legacy
- Principles vs. Tribal Loyalties
- Bernanke’s response
- For the middle class, one less thing to worry about
- Social security privatization: a plan both left and right could like
- USA's debt burden unchanged in ten years
no
Posted by: steve | 16 December 2006 at 07:30
Here's a quote I like from the book, The Conservative Nanny State, by Dean Baker
http://www.conservativenannystate.org/
" However painful it may be to the nanny state conservatives, a serious discussion must begin with a basic truth: the corporation does not exist in a free market, it is a creation of the government."
Posted by: muirgeo | 24 December 2006 at 10:07