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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: GraceZ who wrote (88335)3/31/2001 11:24:53 PM
From: Skeeter Bug  Read Replies (1) of 436258
 
>>Wrong answer<<

grace, that was a hypothetical. the above doesn't make sense in light of the fact that you didn't address the issue. the issue is whether macro productivity was increased by laying off 100 people who then collect unemployment, all else being equal. i know this didn't happen. are you arguing that macro productivity went up under this scenario and that is why the answer was wrong?

i'm well aware the reality is that most folks got jobs elsewhere. they created revenues for other companies.

those revenues were included in gdp figures. those revenues were within historically normal levels.

iow, there was no new economy, no new info tech productivity to speak of. no new shangrila that meant tech stocks always went up and 400 times earnings was reasonable. that is, until alan.com rigged the numbers. yes, rigged. the new economy was a rig job from the get go.

the bottom line is that the company in the original hypothetical the company's revenues decreased to offset most of the displaced workers' new revenues.

i believe #2 fits the bill, however, i don't have anything other than anecdotal evidence.

>>I don't know how you measure something like this on the macro level<<

why doesn't gauging the economic value of all goods and services sold in the nation in a given year work? increased productivity that doesn't create more dollars is not economic productivity.
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