Sep 08 2015

“Unicorn” Tech Companies Inflate Latest Economic Bubble

Feature Stories | Published 8 Sep 2015, 10:05 am | Comments Off on “Unicorn” Tech Companies Inflate Latest Economic Bubble -

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GUEST: Doug Henwood, political economist, author of “After the New Economy,” and editor of “Left Business Observer.”

Every now and then the story of an enormously successful tech company being worth hundreds of millions of dollars, or even a billion dollars, makes the news. These stories are a hallmark of our new technology-buoyed economy. So magical and highly valued are such companies that insiders have a name for them – “unicorns.”

Only about a 100 such companies exist worldwide and a majority of them are in the US. But, as with any such too-good-to-be-true financial phenomenon is the warning of what happened last time and what is likely to happen in the future.

What goes up must come down. Or perhaps, what inflates into a bubble must eventually burst. That’s the case Doug Henwood makes in his new article for the Nation entitled, “Age of the Unicorn: How the Fed Tried to Fix the Recession, and Created the Tech Bubble.

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