>> The Summers-Delong paper does argue that investment is key to growth,
>> although growth may spur investment in a reverse causality. Their data is
>> historical. Today's investment,as Doug says, is very different.
>
>If memory serves,
>Jane Gravelle, of whom I think a lot, says if
>you jiggle their data a little the results
>fall apart,e.g., that they rest on a few itty-
>bitty third world countries. (forgot which
>ones)
Well, we have one of the authors here, and it's not Larry Summers. How embarrassing I forgot his name earlier.
Doug