Skeeter i think you're off because the hedonic inflator pricing theory is deflected/disproven by back-testing. (It's an old argument, I grant you, but a hoax. )
Productivity has been underestimated by an outdated U.S. govt measurement technique.
BTW, inlfation has been overestimated by 1% or so for years. Alan Greenspan and most economists agree on this. The problem here is that govt inflation measurements are too slow to keep up with advances in technology. New products come out and thge gocvt does not price them til they're already come down n price after years of being on the market. (cell phones, PC's, video cameras, 35mm cameras, microwave ovens, and VCR's, among others, come to mind.)
<<however, i do agree that opportunity, innovation and commercialization possibilities in this country are the greatest. >>
Skeeter, your pessimism really shows here! I'll take the livberty of correcting you-
Opportunity, innovation and commercialization that have already been realized in this country are the greatest.
Victor |
