1 -> He has already accepted he was mistaken. Yet, it’s not so obvious he was wrong, because his argument wasn’t that the internet wasn’t gonna have a huge impa

1 -> He has already accepted he was mistaken. Yet, it’s not so obvious he was wrong, because his argument wasn’t that the internet wasn’t gonna have a huge impact as much as the fact that the fax machine had a huge impact as a communication device and the internet would have a similar impact as a communication technology. He clearly didn’t understand how the internet could go beyond the communication aspect but that has nothing to do with being wrong about the logic but more so not understanding the internet. Something most people didn’t, including people like Bill Gates. 2 -> I’m not sure what was wrong here because this is exactly what happened. Greenspan created a housing bubble to offset the fact that a dot com bubble had just popped. His “needs to create” wasn’t an endorsement of this strategy. It was a prediction of what a conservative governement would need to do, which is exactly what they did. But even setting aside these nuances, even if you think he was wildly wrong(I’m still not sure what he was wrong about #2), it’s not a misunderstanding of Econ 101 or Econ of any level by any measure. At worst it’s a bad prediction of stuff that was basically unpredictable.