Concrete abstractions

David Schanoes Schanoes at MNR.ORG
Thu Nov 6 07:26:53 MST 2003


>From the US BLS:


   In manufacturing, productivity increases in the third quarter were:

               8.6 percent in manufacturing,
              14.7 percent in durable goods manufacturing, and
               2.3 percent in nondurable goods manufacturing.


Unit labor costs in durable goods manufacturing  declined more than 9%
from the second quarter.  Thus the "growth" in profits and the economy--
where growth, concretely, takes on all the abstract characteristics of
contraction.

dms




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