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To: Sam Citron who wrote (3456)	11/13/1997 12:03:00 PM
From: Ian@SI	Respond to of 10921

Sam, Yes, I've seen and disagreed with Briefing's take. I don't expect 4.5% quarterly productivity improvements. In fact, I would expect this quarter's number to be revised downward. I do believe that undertrend productivity improvements during the 70s and 80s are now being offset by above trend numbers. It's quite possible that these improvements may remain a positive influence for several years. Thanks for your take, Ian.

To: Sam Citron who wrote (3456)	11/13/1997 12:35:00 PM
From: Ian@SI	Respond to of 10921

Sam, 1 last query re Briefing on productivity. Their short answers were: The critical questions are these: Is productivity accelerating or decelerating, and is it growing faster than wages? Our answer to the first: It is decelerating. And to the second: Wages are growing faster than productivity. To me the comment that Wages, a component of Productivity, is growing faster than productivity is irrelevant and misleading. I see nothing wrong with letting the work force receive their reward for producing more output at a lower cost. In fact, it seems eminently fair that they should also share the benefits (shareholders for those companies I hold, and consumers too for those products I buy :-) ). Am I out to lunch? or is Briefing crying "wolf"? Ian.