Friday, July 23, 2004

From an interview with Robert Shiller in March 2000 - Shiller is a bearish economist who at the time was predicting large stock market declines soon to come:

Q: What about all the productivity improvements brought about by the Net?

A: Is the actual invention of the Internet more important than vending machines? They're everywhere! Think of all the labor they save! That's a pretty good invention, but I don't hear anyone saying that the stock market should triple because of vending machines.


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