>Have mentioned several times when LBO and Pen-l that I suspect that factors
>other than productivity has been major contributors to the rise in profits.
>The story that you mentioned here is an excellent example.
Interestingly, the profits figures in the national income accounts for the last few years have been trending downwards (measured as share of GDP), and in the revisions published the other day they were actually revised downwards - this while an alleged productivity revolution is going on.
Doug