SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Ask Michael Burke
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Michael Bakunin who wrote (69997)11/3/1999 12:37:00 PM
From: Don Lloyd  Read Replies (1) of 132070
 
mb -

(which brings up the question Alan Greenspan should be asking: if technology is helping us increase human productivity at some heretofore unseen pace, why can't we find it in the numbers?)

Because an economy is more than numbers, no matter how well or poorly measured. Any halfway reasonable economy will be increasing productivity at one rate or another.

This increased productivity will evidence itself as an unpredictable (and poorly measurable ) mix of -

1. lower prices (unless neutralized by monetary and credit expansion)

2. higher profits (unless the productivity improvements do not provide a competitive advantage among suppliers and/or regulation preserves non-competitive suppliers)

3. unemployment (unless market size or market share are expanding, or new firms are able to soak up the released resources)

4. increased real wages (as the remaining employees of surviving suppliers earn their marginal product)

5. increased real consumer choices (as increased real wages and lower prices allow the additional consumption of both more and newer products without any necessary numerical result)

6. increased product market turmoil (as all of today's business assumptions become invalid and dynamic adaptability is rewarded, and rigidity is punished)

Regards, Don
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News