you changed the subject rather than answer the question. Whether Greenspan said something about ARMs has nothing to do with whether wealth and income disparities increased during periods of rapid technological advance. They quite obviously do. That's why we had robber barons in the early part of the century and why we have internet billionaires now.
Address the issue. You consistently try to avoid that by trying to discredit sources on peripheral points. Are you interested in having a discussion or winning some imaginary points?
Oh, and btw, WWII gave us some techno innovation but we also were functionally the only major economy, which acted to temper some of the distortionary effects of that technology. And in any event, the post WW2 technologies were nowhere near as disruptive or as drastic a change in a small period of time as factories, mass production, railroads, electricity or automobiles, which was the high-tech of the early part of the century.
Last edited by loquitur; 12-17-2007 at 01:43 PM..
Reason: Automerged Doublepost
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