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Most of the misbehaviour seems to be related in some way to the huge incentives Wall Street provided in the past decade for reporting rising earnings quarter after quarter (or rather, earnings that exceeded ever-rising expectations).
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Since 1980, the BSP has generally been uprated each year with prices rather than earnings.
Britain has quite a stingy basic state pension because of a Thatcher-era decision (reversed by the new coalition) to link payments to prices rather than earnings.
But the professors foresaw that argument: They reached nearly identical results when they looked at sales growth rather than earnings growth.
"It improves the perceived quality of the business because there's been rather erratic earnings from distribution," said Richard Ratner, an analyst at Seymour Pierce Group.
Rather, the earnings results reinforce the mundane daily challenges of how banks are struggling to increase profit and revenue in a ho-hum economy and in an era of tighter regulation.
For the vast majority of middle-income taxpayers, the Budget was broadly neutral or slightly negative, as salary increases will outpace the rise in personal allowances for 2004-2005, whave have largely been pegged to inflation rather than earnings.
Accrual rates – the rate at which pension benefits are built up – have been approved across the schemes, but Alexander told MPs that this was offset by a lower revaluation linked to prices rather than earnings.
Tech got its comeuppance in 2000 when Internet properties sold on clicks rather than earnings.
He again uses EBIT rather than earnings, and he divides EBIT not by price but by "enterprise value".
Several of these startups like Uber are disrupting industries by focusing on market share rather than earnings.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com