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tech can lead us to prosperity

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Person looking at computer with stock chart on it.

Person looking at computer with stock chart on it.

In 1980 and 1990 we had high inflation, rising interest rates and a flight from stocks. Then a dramatic recovery. How can we imitate those decades now?

Success then came principally from new technology plateaus, along with the availability of early-stage funding for them.

The 1980’s began with computers being basically huge machines. At home and in the office people were still typing, dictating if there was a secretary, none of this very productive.

Venture capital for start-ups was the provenance of the very wealthy, like the Whitneys, and a rare financial firm like Citibank.

Jeremy Wiesen

But in  1980 the Labor Department issued a memorandum to employee pension fund trustees. Not only may they invest in private companies, it said, but also it was suggested that 15 percent of the billions of dollars in pension funds should not be in public companies but private ones.

Also by Jeremy Wiesen:A better idea for Elon Musk: inner space | Opinion

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