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

To: Michael Bakunin who wrote (69997)	11/3/1999 11:48:00 AM
From: BGR	Respond to of 132070

MB, Maybe because technology deployment is at its infancy. At least that's what Economist thinks. I do too, but then I work in this sector and have a vested interest. But, don't forget that the market is forward looking, always. -BGR.

To: Michael Bakunin who wrote (69997)	11/3/1999 12:37:00 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 132070

mb - (which brings up the question Alan Greenspan should be asking: if technology is helping us increase human productivity at some heretofore unseen pace, why can't we find it in the numbers?) Because an economy is more than numbers, no matter how well or poorly measured. Any halfway reasonable economy will be increasing productivity at one rate or another. This increased productivity will evidence itself as an unpredictable (and poorly measurable ) mix of - 1. lower prices (unless neutralized by monetary and credit expansion) 2. higher profits (unless the productivity improvements do not provide a competitive advantage among suppliers and/or regulation preserves non-competitive suppliers) 3. unemployment (unless market size or market share are expanding, or new firms are able to soak up the released resources) 4. increased real wages (as the remaining employees of surviving suppliers earn their marginal product) 5. increased real consumer choices (as increased real wages and lower prices allow the additional consumption of both more and newer products without any necessary numerical result) 6. increased product market turmoil (as all of today's business assumptions become invalid and dynamic adaptability is rewarded, and rigidity is punished) Regards, Don