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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Maurice Winn who wrote (119245)9/1/2001 7:41:23 PM
From: Les H  Read Replies (2) of 436258
 
I believe the productivity myth was already disproved. Given that many of the firms involved in the New Error were giving away product and services in 1999 to claim huge ramps in sales in order to impress "investors", much of that gained in revenue per employee has to be dismissed. The telecom act of 96 was a one shot deal whereby firms raised lots of cash from public offerings for building up businesses. What the productivity measures fail to capture is how much of a wealth transfer occurred from the public and from overseas investors in order to achieve those gains. They should have a more capitalistic measure of productivity, rather than the labor-based measure that they currently employ.

Greenspan stands accused of heresy on three counts --- heresy by thought, heresy by deed, heresy by word, and heresy by action. No, make that four counts.
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