> Well not exactly. The investment share declined for much of the 1980s
> expansion, and the 2000s as well - in both cases, despite high/rising
> profitability.
The 70's had a high investment share; the 80's had a low investment share. In the 90's it was high again, in the 2000's it was low again. Okay, you're right, it's not varying with the business cycle, but it doesn't seem to be a secular downshift either.
SA