We were proposing, in a sense, that the rest of the world be made safe for American ideas, as they adopted intellectual property rights that gave patent protection to our very innovative economy.
We had a booming stock market in 1929 and then went into the world`s greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different.
Unfortunately, the real focus in this country has not been on the rest of the world. It`s been on our own issues and our own problems. Fair enough. But it means that our simple hopes that everything will just work out abroad aren`t really coming to pass.
There`s a lot of strength in the U.S., but there`s a lot of froth also. The froth will blow off. We`re going to have to face up to some realities that we`re not fully facing up to right now.
The truth of good economic doctoring is to know the general principles, and to really know the specifics. To understand the context, and also, to understand that an economy may need some tender loving care, not just the so-called hard truths, if it`s goin...
We were proposing, in a sense, that the rest of the world be made safe for American ideas, as they adopted intellectual property rights that gave patent protection to our very innovative economy.
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