Wired

Profits of Doom. Why the bust was for the best for the rest of us. (Again.)


Let us now praise famous men, the wild-eyed enthusiasts who begat the bubble-boom. Conventional wisdom, you may remember, once rode side by side with the prophets of change. When the stock market hit the puke stage, conventional wisdom turned. The whole new economy thing had been a bad thing. Time, talent, and capital were thrown away on unsustainable enterprises like point-and-click pet food; it was good for Odwalla, but not good for America.