Great moments in economic thought. This morning, the BLS released the 97Q1 employment cost index, which showed direct wages up 0.9% (q-to-q) but benefits stagnant. On CNBC a little while ago, CS First Boston chief investment strategist Matt Alexy described the benefits number as evidence of the great productivity performance of the U.S. economy in recent years. Doug -- Doug Henwood Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax email: <mailto:[EMAIL PROTECTED]> web: <http://www.panix.com/~dhenwood/LBO_home.html>
