GPHY 101 Lecture Notes - Lecture 1: Irrational Exuberance, Government Budget Balance

• School: Queen's University
• Department: Geography
• Course: GPHY 101
• Professor: Sean Field

Document Summary

Video: all watched over by machines of loving grace. Called the new economy : leading individuals articulated this body of thought; increased rate of productivity started from new technology. What was really happening: hardly any increase in productivity, but profits going up, 1996 market may be overvalued, irrational exuberance, greenspan realized the computers actually were increasing productivity, boom continued. Certain things were being kept from the president: banks dominated american government, free flow of capital can generate extreme economic growth, stiglitz: money goes out, countries in asia are devastated. Bankers and hedge funders make money on the short but large flows of profit. Treasury was close to commercial banks and wall street, made sure president didn"t see the arguments: technology shifted power, exercised over the individual. 1997 - monica lewinsky exposed, property bubble in se asia burst: thailand south korea indonesia.