Haven't we been here before? I mean: no competition; stagnation; da-da-da-da -- then under the auspices of Messrs. Baran and Sweezy. Then whoops -- along came the microelectronics revolution, and small fry starting up businesses in their homes and garages that swelled to gigantic size. Some -- e.g., Apple, with its world-leading stock market valuation, are now the very monsters now cited as strangling competition. I don't think that we're witnessing the end of history -- i.e., I anticipate that there will be new breakthroughs (technological and otherwise) and renewed growth (although likely there will be one or more bubble burstings in the interim).
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Post Date: Mar 19, 2018 |
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