# Is Greenspan solely responsible for the economy boom of the 90's?

**URL:** <https://boards.straightdope.com/t/is-greenspan-solely-responsible-for-the-economy-boom-of-the-90s/46590>\
**Category:** Great Debates\
**Created:** [December 20, 2000, 9:54pm UTC](https://boards.straightdope.com/t/is-greenspan-solely-responsible-for-the-economy-boom-of-the-90s/46590 "2000-12-20T21:54:49Z")\
**Posts on this page:** 4\
**Page:** 2

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**Author:** ![jshore](https://avatars.discourse-cdn.com/v4/letter/j/b5e925/32.png) [@jshore](https://boards.straightdope.com/u/jshore)\
**Post date:** [December 24, 2000, 2:51pm UTC](https://boards.straightdope.com/t/is-greenspan-solely-responsible-for-the-economy-boom-of-the-90s/46590/21 "2000-12-24T14:51:48Z")

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> [@](#):
>
> \*Originally posted by Daniel Shabasson \*  
> I think a lot of the reason for the boom is free trade. I can buy a decent winter coat for $50. Years ago, when such items were made in the USA, it would have cost twice as much. You just can’t argue with the fact that if stuff made overseas is cheaper and my dollar goes farther, I am wealthier.

Well, sure **you** are if you don’t happen to be one of the workers in the coat factory that is now out of a job 'cause the company can pay workers $.50 an hour to make the coat in China! But workers here, in that and related industries, could experience job loss and/or downward pressure on wages. As has been pointed out, this is what happens when there is freedom of movement in capital with no corresponding freedom of movement in labor.

> [@](#):
>
> This also keeps inflation down, since the lower costs of producing aborad keeps prices down and corporate profits up.

Again, great for some. But not so great for others.

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**Author:** ![erislover](https://avatars.discourse-cdn.com/v4/letter/e/71e660/32.png) [@erislover](https://boards.straightdope.com/u/erislover)\
**Post date:** [December 24, 2000, 3:09pm UTC](https://boards.straightdope.com/t/is-greenspan-solely-responsible-for-the-economy-boom-of-the-90s/46590/22 "2000-12-24T15:09:02Z")

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Man, jshore, if I didn’t know better I’d say you wanted to abolish profit.m 😉

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**Author:** ![jshore](https://avatars.discourse-cdn.com/v4/letter/j/b5e925/32.png) [@jshore](https://boards.straightdope.com/u/jshore)\
**Post date:** [December 24, 2000, 5:31pm UTC](https://boards.straightdope.com/t/is-greenspan-solely-responsible-for-the-economy-boom-of-the-90s/46590/23 "2000-12-24T17:31:00Z")

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Hey, who needs profit anyway!?! Wasn’t the CEO of [Amazon.com](http://Amazon.com) on the front cover of Time Magazine last year? Has that company ever made a profit? 😉

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**Author:** ![Moe](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/moe/32/2972_2.png) [@Moe](https://boards.straightdope.com/u/Moe)\
**Post date:** [December 24, 2000, 7:38pm UTC](https://boards.straightdope.com/t/is-greenspan-solely-responsible-for-the-economy-boom-of-the-90s/46590/24 "2000-12-24T19:38:15Z")

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not to hijack my own thread but how the heck does Amazon stay in business? Could they get that much from sponsors alone?

Anyway, Thanks everyone for the wonderful input. I think, to sum up what I’ve read here, that it seems clear that the country’s economy cannot be reduced to a single variable or person. It is a very, very complex system and requires one to take into account multitudes of variables to accurately understand it.

To keep the conversation going though, could anyone attempt to narrow it down to what you believe to be oh, say, the 3 most important variables, those having the most influence on the economic boom of the 90’s?  
I’ll repeat myself - “I know nothing”, but I’ll start with:

1. The internet & computer technology
2. Greenspan
3. **obfusciatrist’s** sock-buying uncle

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