David Irving on 11 Oct 2000 02:27:06 -0000

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Re: <nettime> What ever happened to the New Economy?

geert lovink wrote:

> ...

> I find it cute and amazing that so many of these free
> market techno evangelists believe in seamless growth. No feedback loops, no
> set backs, no market movement, just childish linear growth models. Much of
> the New Economy ideology is based on simplistic exponential growth
> predictions.

Obviously these blokes have never brewed beer. Once a finite resource (sugar in
the case of beer, the universe in the case of neo-classical economic theory) is
all gone, growth must cease - leaving only the potential for a hangover.

> ... the pyramid scheme of stock options.

Like, say, Amway. Which reinforces the yeast analogy. It's a pity that most
economists don't understand basic science. Or mathematics.

I liked your thoughts on this.


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