Re: Re: Re: Re: Fear and insecurity over the 1955 bull

2000-02-29 Thread Jim Devine
At 10:06 AM 2/29/00 -0800, you wrote: regarding high profit rates: Remember that they also discourage long term investment. why? Jim Devine [EMAIL PROTECTED] http://liberalarts.lmu.edu/~jdevine

Re: Re: Re: Re: Fear and insecurity over the 1955 bull market

2000-02-29 Thread Doug Henwood
Brad De Long wrote: Why is this a good unconventional measure? I would prefer the total market capitalization of the SP 500 divided by the companies' total annual wage bill... Conceptually, the SP 500 is the price of a share of blue-chip corporate America. So, dividing it by the average wage