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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: cardcounter who wrote (5183)	6/6/2000 8:16:00 PM
From: pater tenebrarum	Respond to of 5676

this describes GG's intellectual fallacy quite well...he also seems to think that new inventions automatically signify productivity increases. they do not, however. if they did, the productivity enhancing effect should be measurable in dollar output per employee ('real' productivity in other words) across the economy. that is however not the case. as the previously posted study by Bronson shows, even if we look at the highly efficient big cap cos, only one of the four biggest actually can boast of measurable productivity increases. this doesn't take into account that these companies use every legal loophole available to produce the 'numbers', from pooling of interests accounting which understates the true costs of acquisitions, to raiding the pension fund to enhance earnings to the ESOP pyramid scheme, which creates tax rebates that artificially inflate results.