It is a balancing act, but we need to watch out that we're not letting the economy run the show based on things like overinflated valuations and speculation, which at the first sign of trouble, implode on themselves at almost a 50% loss.
How much actual value(quality of life) is really being generated here? How much of it is hype, bandwagons, and charades? How sustainable is it and what safety nets are available when the bottom falls out? During this time you also think about how many people are telecommuting effectively right now, and how much downtown economies and real estate relies on everyone getting in their car, or on a bus/train going downtown each morning, and then the knock on effects this has on the environment.
A lot of people don't want to hear pessimism or realism, they want to see growth, growth and growth. Growth at all other costs can still result in the side effect of quality of life improvements, but unlimited economic growth has not been sustainable, and we've had quite a few boom and bust cycles the last 2 decades now. If you're designing the economy to continually boom & bust, it's hard not to expect eventual economic destruction. It's not a matter of "not letting it happen", it's a matter of that's how it's been designed. It's what it does.
How much actual value(quality of life) is really being generated here? How much of it is hype, bandwagons, and charades? How sustainable is it and what safety nets are available when the bottom falls out? During this time you also think about how many people are telecommuting effectively right now, and how much downtown economies and real estate relies on everyone getting in their car, or on a bus/train going downtown each morning, and then the knock on effects this has on the environment.
A lot of people don't want to hear pessimism or realism, they want to see growth, growth and growth. Growth at all other costs can still result in the side effect of quality of life improvements, but unlimited economic growth has not been sustainable, and we've had quite a few boom and bust cycles the last 2 decades now. If you're designing the economy to continually boom & bust, it's hard not to expect eventual economic destruction. It's not a matter of "not letting it happen", it's a matter of that's how it's been designed. It's what it does.