"At the level of the economy as a whole, financial turmoil in 1987, 1991, 1998, and 2000 had little impact. It was true some of the greedy, rash, and wealthy had lost some of their money in ill-judged investments and lost some more to the even-richer cardsharps of Midtown Manhattan. But had the rich who invested in the dot-com bubble decided instead to give $1 trillion to universities that promised to spend it rapidly on research into applied computing and communications technology we would have applauded—and that’s what they did during the dot-com bubble. And had the rich who invested in subprime mortgage securities instead given $500 billion to charities to upgrade America’s housing stock we would have applauded—and that’s what they did during the real estate bubble. Admittedly, charities seeking to improve America’s housing stock would have built three-story multi-unit buildings near shopping and transit rather than five-bedroom houses with swimming pools hours from everywhere in the desert between Los Angeles and Albuquerque, but you cannot have everything."
J. Bradford DeLong
The Nicholas Fox Weber biography of Mondrian
Prieš 2 valandas
Komentarų nėra:
Rašyti komentarą