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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: GraceZ who wrote (88424)4/1/2001 2:40:12 PM
From: Skeeter Bug  Read Replies (2) of 436258
 
>>If I follow what you are saying, you are arguing that the productivity increases that were suppose to happen didn't happen, that it is all an invention, and the only thing that matters is how the GDP is effected.<<

yes. exactly. i'm talking economic productivity b/c that is what gdp was designed to measure. the name of the economic game is to get dollars as efficiently as possible. that is what gdp is supposed to measure.

there is no doubt in my mind per unit productivities have occurred. significant per unit productivities. however, economically it did not translate into much more dollars.

for example, the name of the game in basketball is to score points. one could argue that my dribbling productivity increased b/c i dribble more efficiently than before and that should be counted somehow. the rules don't care. dribble all you want. if the ball doesn't go in the bucket you get no credit - dribble or no dribble.

could dribbling productivity be counted? yes. it just doesn't impact the game in a direct way. scoring baskets does.

>>If that is true then one would expect that the GDP would be declining or at least slowing in constant dollar amounts. It appears to be rising at a faster clip in these charts so the evidence doesn't support your theory. Perhaps you'd like to counter with evidence of your own.<<

perhaps i haven't communicated well. i'm not saying gdp is declining. in fact, i'm saying economic *excluding greenspan's non economic manipulation) gdp growth is slightly above historically normal levels. this is good! but it isn't great and it isn't the stuff of an it productivity miracle and a new economy. greenspan knew this when he put into place a system of measurement that has essentially used 0.5% of the economy to double gdp growth of the entire nation with what amounts to monopoly money (a chained dollar can't buy anything and if a company tried to include them in their earnings report they'd get thrown in jail!)

the net effect is gdp and productivity growth were reported in the 6-8% range instead of the real 3-3.5% range. the difference influenced industry's behavior and they made decision they otherwise would not have made. those were bad decisions. decisions i would like to avoid. decision that alan.com manipulated. this is wrong and that is my point. report reality. gdp growth is well within historical norms. the is no miracle other than one worth less than monopoly money.
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