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October 21, 2007


Simon van Norden

Has no one that worries about such things ever learned how to calculate a confidence interval? (Even seeing std. errs would stop me griping.)

Let's tip our hat to Luca Benati, whose 2007 JEDC article provides some semblence of perspective to this overheated debate.

Sheldon Timberlane

"Productivity" metrics is inherently flawed!

US so-called productivity gains of the PC revolution are priced in! Professionals work on a percentage of built-out cost! Their pricing isn't going down, it's going **up**! Computerized "productivity" is rising as fast as the R/E and stock market values! No productivity gains there )GDP/FTE/del t)!!

So what's pushing productivity up, if not outright bookcooking? Defense and government is what's skewing the numbers. Defense and government both have the lowest FTE/$'s of any activity on earth. E.g. War in Iraq at $450,000M with only 250,000 active agents.
That's some mighty "productive" agents!!

The Financials reap artificially inflated valuations on top of artificially devalued inflation, gaining higher "productivity" even in their own artifice annual report by reducing service levels to customers!

Pure charade! Forest for the trees!!

The most productive person on earth is the guy at the Fed Mint who burns old dollars!!

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