Tuesday, May 09, 2006


The ID Bubble

"At his peak, George Gilder had the power to move the markets," writes Marcelo Prince in the online edition of the Wall Street Journal. "These days the conservative pundit turned technology guru is just trying to get people to pay attention to him."
Mr. Gilder increasingly spends his time advocating intelligent design as an alternative to evolution. Mr. Gilder, who helped found the Discovery Institute, a conservative think thank, is comfortable in the role of social contrarian. He was an outspoken critic of feminism in the 1970s and an early proponent of supply-side economics in the 1980s before turning his focus to the high-tech world.

Gilder's focus on the high-tech world led him to advise the readers of his financial newsletter to buy tech stocks on the eve of the 2000 stock market meltdown.

"The typical Gilder subscriber lost all his money and that made it very hard for me to market the newsletter," says Gilder.

No kidding.

Well, if you can't sell stocks, you might as well sell ID. Certainly, the buyers in question are gullible enough to buy anything.

Gilder has been dead wrong on so many things -- feminism, supply side economics, the stock market -- we might ask ourselves if his advocacy of ID constitutes sufficient evidence that the movement is already slightly past its prime.

Is the ID bubble about to burst? Should we take Gilder's advice to buy, buy, buy?


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