Julien wrote:
>
> >Incidentally, what is the ratio of assets/GNP today? I
> >heard it's been going down in the US, as aconsequence of the New
> >Economy? What is it in Japan, any idea?
>
> I repeat: What can this statistic even mean? I understand
> devalorisation but I
> don't understand how it will be different is the ratio of
> assets/GNP is high or
> low. And I don't even know how he/you price the assets in
> fact. Depending on
> how you price them, the "New Economy" could have increased
> or decreased
> the ratio. And if the "New Economy" affected the ratio, so what?
Have to factor in capital-saving effects of new technology.
mark
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