As people began to believe the Internet would make obsolete many aspects of what was derisively called the "brick-and-mortar economy, " valuations became disconnected from reality.
Probably his next most familiar passage is his Broken Window Fallacy, whereby a broken window caused by a thrown brick would lead to a chain of new spending that would stimulate the economy.
Missing is the brick by brick accumulation of government mandates, fiats, taxes and regulations that slowly strangle an economy already teetering on the brink, the unintended consequences of each new government intervention calling for ever more.