Michael P. wrote:
I didn't mean to say the rapid payback causes high profits, but rather than
high profits mean that companies will expect rapid payback.
that fits with what I was saying: if high profits make companies expect
rapid payback, they're more likely to invest in fixed capital now to
Jim,
I didn't mean to say the rapid payback causes high profits, but rather than
high profits mean that companies will expect rapid payback.
Jim Devine wrote:
I don't think the profit rate was high in 1998 because of rapid payback,
but because wages were low relative to productivity (high
