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To: Ilaine who wrote (88463)	4/1/2001 8:40:53 PM
From: Mike M2	Read Replies (2) \| Respond to of 436258

CB, when the hedonic multiplier is applied to investments in computers and other technologies it creates a dollar figure which is vastly in excess of the actual ( nominal) dollars spent. It creates dollars that ARE nobodys income or expense - THESE DOLLARS WERE NEVER SPENT if it makes you feel better -fine but the hedonic multiplier has no economic relevance. Dell, MSFT, CSCO et. al. report in nominal dollars not chain-weight dollars. I am sure that technology has improved your productivity . tIME FOR Soppranos . mike

To: Ilaine who wrote (88463)	4/2/2001 12:57:52 AM
From: LLCF	Read Replies (1) \| Respond to of 436258

<I think it's really ironic that the people who are arguing that technology has made them more productive are the ones who actually own businesses but we don't seem to get any respect. Why is that? > It's funny because I own my own business, and have also worked for one of the biggest investment banks on WS.... The investment in computers in both places, while being 'better' for everyone and allowing us to make decisions a bit faster [instead of waiting for the next screen to come up] nevertheless has meant little to the bottom line, and hence "productivity" economically speaking. DAK