Again, over time, this should result in increased productivity and hence higher wages all round.
Over time, she continues, "It's a great formula for unmanageable levels of debt and hence higher default rates".
One popular explanation conjures up fears of rising inflation and hence higher interest rates (see article).
Improvements may be due to technological innovation, which led to big increases in labour productivity and hence higher wages.
Rich countries have much higher productivity and hence higher wages in the traded-goods sector than poor countries do.
When it comes to picture quality, plasma TV remains the benchmark, generally achieving higher black levels (and hence higher perceived resolution), better motion rendition and better viewing angles than most LCD TVs.
I would have thought of myself as a passionate minority taste, hence higher on emailed than on read, while Tom Friedman would be the reverse.
Here too, however, GDP must be taken into account: a higher level of GDP will mean more transactions, and hence higher demand for money, other things equal.
And derivatives, not equities, look poised to deliver better volume growth, and hence higher revenues for exchanges, over the long term.
It is unlikely that the doubling of American share prices over the past three years is fully justified by faster productivity growth and hence higher future profits.
Hence, higher taxes (of one sort of another) are coming.
