Originally Posted by
Gecko
Junk bonds was not the reason for the dot-com bubble or the fiber optic boom in teleco's
There's a (part of an) Internet economics talk by Hal Varian:
http://www.sims.berkeley.edu/~hal/
that I can't find on his site called "How Michael Milken invented the Internet". He gave the at/around the time that Gore's remarks were prominent and back when he was in Michigan, but that doesn't narrow it down enough and I don't have time. He succinctly traced how Milken's activities in particular directed $ toward "risky" tech stuff that led to key infrastructure for today's Internet and telco services. It was easily the memorable part of a deadly-dull talk. I went away with "Damn, he's right, just follow the money".
Googling around, someone else wrote something about this:
http://www.richmondfed.org/education...dfs/milken.pdf
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