[lbo-talk] Actual Economic Question

Doug Henwood dhenwood at panix.com
Wed Oct 11 11:26:15 PDT 2006


On Oct 11, 2006, at 2:11 PM, joanna wrote:


> Doug Henwood wrote:
>
>> It's because they're so wonderfully skilled and the market is
>> rewarding them appropriately, of course.
>
> That's right, and Henry Ford IV is just about a million times
> smarter and harder working than I am.

Economists have an answer for that: "unobserved characteristics."



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