RE: Re: RE: Profit Rates -- From Michael Yates

2002-04-19 Thread Davies, Daniel
-Original Message- From: Louis Proyect [mailto:[EMAIL PROTECTED]] Sent: 18 April 2002 19:45 To: [EMAIL PROTECTED] Subject: [PEN-L:25116] Re: RE: Profit Rates -- From Michael Yates What do you meant that poor countries accrue interest liabilities that they don't pay? I was under the

Re: RE: Re: RE: Profit Rates -- From Michael Yates

2002-04-19 Thread Louis Proyect
On Fri, 19 Apr 2002 10:48:16 +0100, Davies, Daniel wrote: I take your point here (that is, if I understand you correctly as saying that we' re talking about imperialism rather than poverty per se here). But would you have said the same thing about Spain twenty years ago? No. Spain had a rather

RE: Re: Re: RE: RE: Profit Rates -- From Michael Yates

2002-04-19 Thread Davies, Daniel
To be fair, although there are known serious problems with depreciation, the WorldCom and Global Crossing affaires aren't really relevant to the statistics Doug quoted. The assets of WorldCom and Global Crossing are worth exactly what they were worth before the meltdown, as stock market

RE: Re: re: profit rates

2002-04-19 Thread Devine, James
I've worked with BEA people in the past. A friend of mine in Gov refers to them as righteous technicians. They are resolutely without political bias in their work. All of their procedures are vetted by panels of outside experts. one problem is that these outside experts are often

Re: Re: re: profit rates

2002-04-19 Thread Doug Henwood
Max Sawicky wrote: I've worked with BEA people in the past. A friend of mine in Gov refers to them as righteous technicians. They are resolutely without political bias in their work. All of their procedures are vetted by panels of outside experts. I've talked with scores of BEA and other USG

Re: RE: Re: Re: RE: RE: Profit Rates -- FromMichael Ya tes

2002-04-19 Thread Doug Henwood
Davies, Daniel wrote: To be fair, although there are known serious problems with depreciation, the WorldCom and Global Crossing affaires aren't really relevant to the statistics Doug quoted. The assets of WorldCom and Global Crossing are worth exactly what they were worth before the meltdown,

RE: Re: re: profit rates

2002-04-19 Thread Eric Nilsson
Sabri wrote, And I worked at money management firms and other firms that provide analytics to them. ... But, there are those who are dishonest liars. I know it. I have worked with them. In my experience private sector data producers--particularly those in the financial sector--sometimes

RE: RE: Re: re: profit rates

2002-04-19 Thread Devine, James
Didn't Merrill-Lynch financial advisors recently get in trouble for selling info that was inaccurate -- but helped the investment-banking side of the business? JD Eric writes: In my experience private sector data producers--particularly those in the financial sector--sometimes produce a

RE: RE: RE: Re: re: profit rates

2002-04-19 Thread Eric Nilsson
Jim wrote, Didn't Merrill-Lynch financial advisors recently get in trouble for selling info that was inaccurate -- but helped the investment-banking side of the business? I know the LA Times has covered this at least twice a week or so ago, but I haven't see much in the WSJ about it. Eric .

Re: RE: RE: RE: Re: re: profit rates

2002-04-19 Thread ravi
a la michael pugliese ;-): - http://www.usatoday.com/money/finance/2002-04-19-merrill.htm No quick deal likely in Merrill Lynch case By Thor Valdmanis, USA TODAY NEW YORK -- The dark cloud hanging over the securities industry just got darker. Hopes of quickly achieving a final

Re: RE: RE: RE: Re: re: profit rates

2002-04-19 Thread christian11
The WSJ has pretty much dropped the ball on the MS investigation. The most they've done is dribble stuff like below out a little at a time. I actually am surprised at this--they are generally more conscientious and interesting about stuff like this. AG's Probe Against Merrill Muddies

Re: Re: Re: RE: RE: Profit Rates -- From Michael Yates

2002-04-19 Thread Eugene Coyle
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

RE: RE: RE: Profit Rates -- From Michael Yates

2002-04-18 Thread Devine, James
Max writes:but according to the Cambridge UK folks, you can't measure capital stock to begin with . . . you can measure aggregate capital stocks (K), simply by multiplying price times quantity of each type and then adding up, but the question is what that measurement means. The Cambridge UK

Re: RE: RE: Profit Rates -- From Michael Yates

2002-04-18 Thread Eugene Coyle
How do you adjust for the change in capital in telecom companies, before and after the melt-down? What's the denominator? World Com Global Crossing etc. I vote with the Cambridge UK folks. Max Sawicky wrote: but according to the Cambridge UK folks, you can't measure capital stock to

Re: Re: RE: RE: Profit Rates -- From Michael Yates

2002-04-18 Thread michael perelman
Gene, this is one of the great secrets of economics. Of course, everyone knows, as Jim mentioned, that we have no theory of depreciation, but we go on pretending that out data is of good quality. Eugene Coyle wrote: How do you adjust for the change in capital in telecom companies, before and