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“Rather than assigning blame for any of the changes to a particular new development, I would rather acknowledge a simple reality: that the world keeps changing, and the changes come in shorter intervals than they did in previous millennia.”

I wish I had more time to research my assertions. At a glance, the debate is not more spending, less taxes. It should be understanding the real change that is occurring right now. The Internet is a truly global phenomenon. To your point, the speed of change requires new thinking to understand where these changes are taking us. Is there a death to the old economy happening right now? Are we entering a new economy? What is it? How do we define it?

Thanks for your comments.

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Telegraphs & telephones & transcontinental railroads eliminated the market for the Pony Express before it even became profitable.

The development of the automobile destroyed the market for carriages & buggy whips & livery stables.

Federal Express, UPS, DHL, et al have severely cut into the profits of the US Postal Service.

We can keep building a longer list if you wish, although I’m not ready to agree with all of your assertions. Rather than assigning blame for any of the changes to a particular new development, I would rather acknowledge a simple reality: that the world keeps changing, and the changes come in shorter intervals than they did in previous millennia. Think of it as an economic model for Moore’s Law.

The key is to identify which of the new developments will have real potential. To paraphrase Wayne Gretzky, ‘It ain’t where the puck is, it’s where the puck WILL BE.’