ed: are you smarter because you get to talk to roger altman and ralph schloss -- ralph schlosstein everyolivia: are they a product of financial engineering? ed: we are on a slow road. people are not into building new factories so they do deals and buybacks. in the future when people are more confident about the outlook, they will go to building instead of buying. brendan: we look at volatility and it is not that much different than 30 or 40 years ago. the one thing that has changed is that there has been an underlying credit crisis. doesn't that change the way we look at that chart? ed: absolutely. it goes back to the financial crisis, ken rogoff's this time is different. it is pervasive and people have a strong muscle memory about what happened. there is still holding back. tom: ed hyman with us. we will talk about stanley fishel and -- stanley fischer and janet yellen. we have some good photos. brendan: the nasdaq closed at an all-time high. we are doing a throwback. that is amazing. when we see the mascot, the pet food supply chain known for the bubble burst. an indicator of a pending

with that, let me turn the podium over to roger altman. roger. >> morning, everyone. i'll be real brief. i think that the upcoming framing remarks and the two panels we're about to have are going to fit anyone's description of provocative. i, too, want to thank melissa and kristen and the entire hamilton staff for organizing an event as rich as this and as substantive as this. as bob said, we're going to start with framing remarks from erik and andy, both professors at m.i.t. and the sloane school of management there. erik runs the m.i.t. initiative on the digital economy, and andy is a principle research scientist at m.i.t. and the sun school in his field of research is the impact of digital technologies on business, the economy and on society. so we really could not have better framers, including because they've written a profound book many in this room, i'm sure have read it. "the second machine age." i took away three points from that book. one, we're at an inflection point on the pace of digital technological advance, that it is accelerating, and that it will pro

they will be introduced by roger altman, founder and chairman. first is entitled the future of jobs. i just introduced the professor of economics at mit, the cofounder and and executive vice executive vice president of analytics and former chief technology officer and secretary of the treasury and the university professor at harvard. the moderator will be melissa the director of the hamilton project and the professor of the university of maryland. the second panel is the future of the business and the patient and in addition the participants will be the professor of economics and the distinguished university professor in maryland the research project agency known to all of us as darpa. and a member of the advisory council on the hamilton project. but we close by extending the particular thanks to melissa who i have already mentioned, the director kristen mcintosh, the managing director come and brad the visiting fellow at the hamilton project providing the intellectual constructs for the session and putting together what is a workable program. le