Saturday, May 26, 2012

Recession malaise and technological growth co-exist quite nicely ...

    As the Euro-woes and the American toxic mortgage scandals stall the global economy ( stall its growth rate a little - its not as if the whole world has stopped breathing or something), some sectors of the economy are still going gangbusters.
   As their cousins did during the long 1870s-1890s recession-depression and during the Great Depression 1929-1942.
    Currently it is mobile electronics that is absorbing all the free cash going, and asking for even more, as it throws up cellular towers and fibre optic links everywhere.
   New technological wonders alway find ready money in depressions as the 'smart money' tries desperately to get on board the next 'new thing' , whatever it might be, in an effort to survive and even flourish during hard times for the rest of business.

   Telephones, lightbulbs and anything and everything electrical did well during the 1870s-1890s business slump in the middle of High Modernity's first decades, as did synthetic chemical illusions during the grim 1930s.
   This is why technologically inclined youth often fail to be scarred by growing up and maturing during bad times - 'What bad times?' they ask - all they saw was The Future - and they were sure It Worked......

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