Doug, Gee, Solow and Samuelson never thought of it either, when defending the idea of the production function. Luckily they had Joan Robinson to call it to their attention.
But you and I are talking about different profit rates, as Daniel Davies has just pointed out. Gene Coyle Doug Henwood wrote: > Eugene Coyle wrote: > > >How do you adjust for the change in "capital" in telecom companies, before and > >after the melt-down? What's the denominator? > > Gee, better contact the folks at the Bureau of Economic Analysis. I > bet they never thought of this! > > In fact, I'm sure they've never thought of many of the objections > brought up on PEN-L over the last several days. They are, after all, > just a bunch of third-rate public sector bean counters. A handy > reference list of people who need an education can be found at > <http://www.bea.gov/bea/beatel.htm>. The person who handles the > capital stock estimates is Leonard Loebach, at 202-606-9764. If he's > like most of them, he'll probably answer his own phone and be happy > to talk to any knowledgeable, friendly caller. > > Doug
