The Week

Doug Henwood dhenwood at panix.com
Mon May 1 09:07:55 PDT 2000


Michael Perelman wrote:


>Just as the US consumption is supposedly driving the world economy, could we
>not assume that the small fraction of people who own stock drive the
>US economy
>as the effect of their consumption ripples through the economy?

That's what Poterba & Sawmick were testing, and came up empty.

Doug



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