The heart of Japan's problem, many experts say, is that it has not managed to find ways to invest its excess capital in profitable businesses.
They've launched a fund that focuses on providing growth capital to profitable small businesses in Michigan.
On the other hand, for low values of ( Z ), the representative household would be willing to specialize, to take advantage of economies of scale, to accept or generate new production technology, and hence, to make human capital investment profitable.
"Since the crisis, there has been a flight of capital to more profitable markets.
Having a second home in Aberdeen, Europe's energy capital, is a profitable business.
In the past few years, all the surviving big banks have raised more capital and become profitable again.
Cumulus, which is publicly traded, and Clear Channel, which is privately held, mostly by Thomas H. Lee Partners and Bain Capital, are highly profitable.
The banks, with bad debts of ¥150 trillion $1.3 trillionn) and derisory capital, remain barely profitable.Still, the government thinks that a combination of mergers and injections of public funds might work better the second time around.
If China's capital spending appears profitable, it is only because each stage of investment creates artificial demand for the products of the previous stage.So Mr Pettis and Mr Sumner are divided on China.
Although the group suggests that it has decided to retain capital to fund "profitable growth", the Solvency II coverage ratio of 123% (post dividend) implies that it didn't really have much room for manoeuvre.
