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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 12 4:00 PM EST

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To: bobby beara who wrote (39194)	2/4/2000 6:34:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

Bobby, agreed. btw, the productivity 'miracle' is a highly contentious issue imo, as the bulk of productivity increases has taken place in only one tiny sector of the economy, namely box-making. and there it is mainly a function of 'hedonic pricing' which distorts everything from inflation to GDP data. the government counted $5,8 billion in computer investment growth as 146 billion in 1998 due to this method, inflating GDP growth by about 50%. and there can be no doubt that the very real productivity gains through e.g. the automation of manufacturing processes are indeed largely behind us. BMW has a factory in Germany that's manned by 16 people...how much better can it get? one thing often overlooked is that while PC's and other hi-tech machinery have made various tasks much easier, the complexity of the tasks has increased accordingly. in the middle ages book-keeping was done by hand, but then they only counted how many gold Talers came in and how many went out. this is the price of progress...certainly one we pay happily, but the govt. statisticians make like we've already arrived in Utopia and we clearly haven't. hb

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