On Jun 5, 2006, at 9:56 AM, Jim Devine wrote:
> If you start your comparison in mid-2001, much of the rise of profits
> is due to (limited) economic recovery. Profits are quite pro-cyclical
> (and fell drastically from 2000 to 2001).
This gain in profits, though, is unprecedented, or nearly so. All the benefits of productivity growth have gone to profits and upper- bracket incomes - unlike the late 90s, when real wages rose for a few years.
Doug