tag:blogger.com,1999:blog-2098432983500045934.post8577576200941884993..comments2024-03-12T22:19:32.339-04:00Comments on The New Arthurian Economics: I have to look into this moreThe Arthurianhttp://www.blogger.com/profile/16501331051089400601noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2098432983500045934.post-31495080079793327712014-09-26T11:13:35.086-04:002014-09-26T11:13:35.086-04:00It strikes me that TFP is a way of looking at the ...It strikes me that TFP is a way of looking at the world that matches the current tax structure. Business costs are allocated into 3 buckets. The cost of labor, the cost of capital and the cost of "everything else". The tax system taxes each of these buckets differently. The salary and wages of labor component are taxed at one rate, capital gains at another rate and generally "everything else" is tax exempt. <br /><br />The "Everything Else" includes the cost of energy, the cost of interest and the cost of raw materials. Also when a a company outsources something they used to do in house that may shift the portioning of some costs from labor and capital to "everything else". So ask yourself, what happened to the cost of energy, raw materials and interest starting in 1973? <br /><br />The story that 1948-1973 was a period of great efficiency and technology gains in "everything else" component is laughable. That was the period of great wastefulness in energy and raw material use.jimnoreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-86470068252555991442014-09-26T08:50:00.926-04:002014-09-26T08:50:00.926-04:00You know I am barely literate on this stuff so bea...You know I am barely literate on this stuff so bear with me. :)<br /><br />Is the "Captial" referred to by you and all the other sources only "Physical" capital or does it include "financial" capital or "finance" as you refer to it often?<br /><br />I know you often speak of "Finance" as not a productive resource (for the most part) BUT it does add to GDP.<br /><br />I guess what I am really saying/asking is if Finance does not factor into Capital in the equation you use but shows up in GDP anyway, does that account for some of the discrepancy?<br /><br />Probably off base, but that is a thought that came to me. Thanks in advance for supporting or refuting. :)GeneHaywardhttps://www.blogger.com/profile/08848814178464097668noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-22016501305037516762014-09-26T05:59:56.311-04:002014-09-26T05:59:56.311-04:00I'm looking at this.I'm looking at <a href="http://noahpinionblog.blogspot.com/2011/04/tfp-and-great-stagnation.html" rel="nofollow">this</a>.<br />The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.com