Bob Brinker: Market Savant & Radio Host Message Board

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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: sea_biscuit who wrote (9364)	4/29/2000 9:58:00 AM
From: Kirk ©	Read Replies (1) of 42834

Kudlow says: "The rising stock market is indeed creating wealth, and that wealth is propelling capital investment and productivity higher and higher. With the production of more goods, and greater worker efficiency, inflation remains mute even while growth soars. All, of course, in the context of a steady dollar." cnbc.com He argues that the "wealth effect" is making capital cheaper so it is cheaper to put new capacity online and thus the wealth effect is disinflationary. I like this line: Stanford University economist Paul Romer calls this the "New Growth" model. It stems in large measure from the information technology boom, and it has not only transformed the U.S. economy, it is also transforming economic analysis. If only economists would keep their eyes open. "New growth"?

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