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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (66949)	8/28/1999 11:11:00 PM
From: Michael Bakunin	Read Replies (1) \| Respond to of 132070

I think your statement about productivity (no relationship to performance) is spot on; productivity gains may flow to the shareholders, customers, or employees, or be shared. I try to think about the division of the spoils, and the chances things may change. I don't think ROI necessarily goes to the risk-free rate, but under effective competition it should be driven down to a fair rate compensating enterprises for their business risks. In circumstances with imperfect competition, say oligopoly, I can see an elevated ROI even with competent rivals. -mb