Word: nordhaus
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Nordhaus study, published in 1973, suggests the decline in profits is a basic long-term trend resulting mainly from increasing wages, taxes and prices...
Alan Greenspan, chairman of the Council of Economic Advisers during the Ford and Nixon administrations, told reporters yesterday that the Nordhaus study raises the key question of whether "changing institutions are pushing profits under a basic capitalist level" and he added that profits may be driven down so far that further growth will no longer be possible...
...Nordhaus's contention of a trend' towards falling profits could be used in a case for substantial tax relief for businesses. Feldstein's study showing the declining profit rate to be cyclical could be used by opponents of tax relief arguing that such stimulus is not needed, he added...
Feldstein said Nordhaus based his pessimistic conclusion about the fate of capitalism on the declining share of the gross national product accounted for by corporate profits while he, Feldstein, measured the rate of profits as a return on invested capital. He said his study included data about the profit rate in 1974 that was unavailable to Nordhaus...
Feldstein said his study also differed in that he ran his findings through a computer in a test to determine the profit trend over a period of time, and substantiate his theory, while Nordhaus...