Infomation technology means that cost are falling, old business models are getting over turned and innovation is happening in established and new markets. Bubb

Infomation technology means that cost are falling, old business models are getting over turned and innovation is happening in established and new markets. Bubbles can occur in equity markets independently of this. Due to easy credit over the past 20 years a lot of debt has built up which is retarding real growth now via the financial crisis. In summary money introduces a layer of indirection into the system which can mean that growth is slow even when technological conditions promote in some sectors.