Technology may be in a bubble. An interview with Robert Shiller describes two bubbles: 1) a classic technology stock bubble, too much money chasing too few ideas which are making too little money, and 2) a technology bubble in the job market. The investing bubble is likely to pop, because all such bubbles do. The job bubble may continue to rise if the introduction of computers and robots begins to reinforce itself taking more jobs than it creates. The first bubble can be managed by diversification, or not investing. The second bubble may not have a resolution, which is one reason MIT Prof. Norbert Wiener in 1948 couldn’t decide which was more threatening, the atomic bomb or computers taking jobs. A question still unanswered.
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