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38986 stox/wages -- rank: 1000

DENNIS_CLAXTON at fragomen.com wrote: >Doug Henwood wrote: > >>Ok, the promised chart, showing how much it would cost the average worker >>to buy the S&P 500 from 1890-1999, is up at > >Can you say a little more about what "buy the S&P 500" means? Do you mean >median share price multiplied by 500 or what? The S&P 500 is an average based on the prices of 500 blue-chip stocks. It's meant to represent the broad performance of the market over time. I ...

Document Size:	5327
Author:	Doug Henwood
Date:	Tue Jan 26 13:43:38 PST 1999

38987 Greg and Doug on Stocks & SS -- rank: 1000

Seth Ackerman wrote: >But that's a deeper question, I think, than what Greg was asking, which >is: how can you flay the privatizers for assuming that stock prices will >grow faster than GDP while demonstrating with your own chart that stock >returns have been almost twice GDP growth. Well they're assuming five. Twice is hard enough to explain; more than twice twice is more than twice as hard. Doug

Document Size:	4972
Author:	Doug Henwood
Date:	Tue Jan 26 12:24:55 PST 1999

38988 Britain's low rates of investment -- rank: 1000

Charles Brown wrote: >In what countries are there high rates of investment ? East Asia (which was once a virtue, and now results in an overcapacity problem) and Western Europe (which could be interpreted as a substitution of capital for expensive labor). Doug

Document Size:	4704
Author:	Doug Henwood
Date:	Tue Jan 26 10:35:10 PST 1999

38989 Greg and Doug on Stocks & SS -- rank: 1000

Seth Ackerman wrote: >The 6% percent figure is stock market *returns*. It's stock *prices* >that can only grow as fast as the economy long-term, right? The growth >of stock prices (capital gains) is only one part of stock returns, the >other part being the dividend yield. So it makes sense for the return on >stocks to be higher than than the growth rate, no? Or am I missing >something? Stock prices should, over the long term, grow at the same rate as profits, since that's what ...

Document Size:	5476
Author:	Doug Henwood
Date:	Tue Jan 26 10:31:50 PST 1999

38990 Britain's low rates of investment -- rank: 1000

Michael Perelman wrote: >Can't low levels of investment reflect, in part, the substitution of cheap >labor for capital? That's my guess. But to Greenspan and Wall Street, this is an example of U.S. efficiency. Doug

Document Size:	4731
Author:	Doug Henwood
Date:	Tue Jan 26 09:00:01 PST 1999

38991 Butler and bad writing -- rank: 1000

pms wrote: >Nice tribute to Nader in Salon. I wish I could be his girlfriend, or >daughter, or right hand man. You got a weakness for guys that work 18 hours a day and have no sense of humor? Doug

Document Size:	4586
Author:	Doug Henwood
Date:	Tue Jan 26 07:24:54 PST 1999

38992 Britain's low rates of investment -- rank: 1000

Jim heartfield wrote: >Looking at the news that the British Economy has not gone into >recession, I found these figures illustrating the historically low >levels of British investment. > >Presumably this absence of industrial development is the reason that the >Government is currently promoting British pop music and arts. > >Private Gross Fixed Capital Formation (Less Dwellings) as a percentage >of GDP. In Millions, Current Prices > > PGCF GDP % > ...

Document Size:	6469
Author:	Doug Henwood
Date:	Tue Jan 26 07:00:56 PST 1999

38993 Stocks and GDP -- rank: 1000

Michael Brun wrote: >Some possible explanations for the discrepancy beween US GDP growth rates >and Stock Market average growth rates: > >(1) Since financial flows are more global than actual production, couldn't >US stock market averages (especially of elite "blue-chip" shares) grow >faster than the US GDP because of faster GDP growth elsewhere? E.g., >before the recent crisis, the money could have been made in Asia, where >growth was around say 8% instead of ...

Document Size:	7727
Author:	Doug Henwood
Date:	Tue Jan 26 06:45:29 PST 1999

38994 Stocks and GDP -- rank: 1000

Michael Brun wrote: >Some possible explanations for the discrepancy beween US GDP growth rates >and Stock Market average growth rates: > >(1) Since financial flows are more global than actual production, couldn't >US stock market averages (especially of elite "blue-chip" shares) grow >faster than the US GDP because of faster GDP growth elsewhere? E.g., >before the recent crisis, the money could have been made in Asia, where >growth was around say 8% instead of ...

Document Size:	7384
Author:	Doug Henwood
Date:	Tue Jan 26 06:45:29 PST 1999

38995 That Obscure Object of Discipline (was lingua franca on "stars" in academia) -- rank: 1000

d-m-c at worldnet.att.net wrote: >And Dougster Baby these numbers what do they *mean* ferpity'sake? Well that's what I was asking you. You're the sociologist; I'm just a journalist. >Aren't those numbers pretty stable? Yes. >And doesn't the ideology of meritocratic individualism have much to do with >this attitude: If I don't like my job it's my fault, so the best answer to >give is that I like my job, otherwise sumpins wrong with me. Please say more.... Doug

Document Size:	5654
Author:	Doug Henwood
Date:	Mon Jan 25 21:04:07 PST 1999

38996 That Obscure Object of Discipline (was lingua franca on "stars" in academia) -- rank: 1000

William S. Lear wrote: >Hmm, or a frightened people putting on a happy face? Times are "good" >and the memory of bad times looms large. I'd say this is like saying >you are "satisfied" on a a tightrope 400 feet above the cement --- >satisfied you aren't plummeting earthward. I dunno. Maybe a sociologist - Kelley? - can clarify these figures. I ran a smiliar set past the American Association of Public Opinion Research list once, and was told that straightforward ...

Document Size:	5626
Author:	Doug Henwood
Date:	Mon Jan 25 20:19:48 PST 1999

38997 elegant reasoning -- rank: 1000

Henry C.K. Liu wrote: >No problem. >A logevity weighted payment compensation formula will even out the inequity. >Black will get higher monthly payments based on group actuaries. >Also, the collection age can be calculated as a percentage of estimated >longevity intead of a fixed age. >Next objection, please. My first objection would be to accepting the life expectancy discrepancy as a given, rather than a judgment on U.S. society. But that's why I don't work for Cato. Doug

Document Size:	4863
Author:	Doug Henwood
Date:	Mon Jan 25 18:11:28 PST 1999

38998 stox vs. wage -- rank: 1000

Ok, the promised chart, showing how much it would cost the average worker to buy the S&P 500 from 1890-1999, is up at <http://www.panix.com/~dhenwood/StoxVsWage.html>. Plus two articles - the social security article everyone's been talking about (ha ha) <http://www.panix.com/~dhenwood/AntisocInsec.html>, and an article on the global financial crisis <http://www.panix.com/~dhenwood/CrisisUpdate.html> that pissed off Lou Proyect. I normally wait a bit longer before posting ar ...

Document Size:	5370
Author:	Doug Henwood
Date:	Mon Jan 25 17:44:09 PST 1999

38999 elegant reasoning -- rank: 1000

>From the Cato Institute's Social Security Project <http://www.socialsecurity.org>: "Since blacks and the poor have shorter life spans than whites and high-income earners, Social Security transfers money from blacks to whites and from the poor to the rich, a reverse Robin Hood program. Since the median life expectancy for a black male born today is only 65.8 years, half of all black men will never collect a single retirement check from Social Security. Only a personalized Social Se ...

Document Size:	4940
Author:	Doug Henwood
Date:	Mon Jan 25 16:46:06 PST 1999

39000 Butler and bad writing -- rank: 1000

Date: Mon, 25 Jan 1999 16:02:53 -0800 (PST) From: MLAFFEY at KENTVM.KENT.EDU Resent-Date: Mon, 25 Jan 99 18:06:13 EST Resent-From: Mark <MLAFFEY at KENTVM.KENT.EDU> Resent-To: pen-l at galaxy.csuchico.edu Subject: [PEN-L:2592] Re: Butler and bad writing Reply-To: pen-l at galaxy.csuchico.edu Sender: owner-pen-l at galaxy.csuchico.edu William Lear wrote: By "social construction" of something, say gender, I assume what is meant is something other than innate development. That is, ...

Document Size:	17977
Author:	Doug Henwood
Date:	Mon Jan 25 16:04:25 PST 1999