Bigger Boom, Bigger Bust
from the and-so-it-goes... dept
There has been a pattern over the last couple of years for people to naturally assume that this economic downturn is the worst we’ve seen in ages, and that it will go on forever. Of course, this is just the flip side of the boom years when the very same people were often saying that the super growth situation would last forever as well. Now, a long time columnist for the Boston Globe tries to put it all in perspective, saying that we’ve had technology booms and busts over the past twenty years and they all follow the same pattern. The one thing to note, is that the downside seems to correspond with the level of boom, so we shouldn’t be surprised if this downturn lasts a bit longer – since the dot com boom was so insane. However, eventually, a new technology will come along, and there will be a new boom.
