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Technology Stocks : AUTOHOME, Inc
ATHM 23.76+1.2%Nov 28 9:30 AM EST
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To: ahhaha who wrote (13145)7/30/1999 2:32:00 PM
From: gpowell  Read Replies (1) of 29970
 
You say you know little about economics, so how could you have any conviction about an accurate assessment of productivity?

In so far as an economy is a dynamic system one can make broad generalizations about the nature of systems.

The point of my comment is that the efficiency of a company trend upward in response to competition when competition threatens the survival of the business and the business has a "will" to continue. This is not a rational process so to anticipate the end of increasing productivity is impossible. In regards to labor markets I believe businesses can still produce greater outputs per employee in the future if they are forced to. Individuals are not efficient; only minor increases in productivity will come form individuals working harder or smarter.

In an environment of open competition an increase in the local cost of labor will force businesses to compensate by increasing efficiencies in other areas. Obviously I am assuming the competitive forces necessary to hold down costs must come from somewhere in the world.

This is where the falling dollar intercedes and acts as a catalyst to market meltdown.

Greenspan has fallen into "new era" thinking. The reason is that he and the rest of them never had a clue about what caused inflation during the '70s.

If you do I'd like to hear it.
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