HashiriyaS14 wrote:
To attribute the Clinton-era economic expansion to the dot-com boom is wildly inaccurate.
There was broad-based growth across nearly all segments throughout the nation, a decrease in the annual federal deficit, across the board wage increases, et cetera.
The dot-com boom and subsequent crash really didn't have a whole lot to do with anything the Clinton administration did. It was also not a significant enough phenomenon on it's own to have created such a broad-based economic revival as was experienced.
Bob Rubin was and is a very smart guy. That's why the "Clinton Boom" happened.
There's some truth to that. Technology IS why the Clinton area saw economic growth, but it wasn't just the internet. All forms of data storage, communications, and automation conspired to increased productivity.
Much of this technological revolution started in the late 70s and especially the 80s.