On Nov 26, 2007, at 11:51 PM, Seth Ackerman wrote:
> But show the
> child a chart of the profit rate over the last 200 years and he
> will not
> be able to make heads or tails of it. That's what I mean when I say
> there's no FROP tendency.
Ah, but you're not making the proper adjustments! Take out nonproductive capital, remove accounting froth, etc. etc., and voila: FROP!