[PEN-L:11006] Wall Street!

[Doug Henwood <dhenwood@xxxxxxxxx>]

Sorry to be so self-promotional, but such are the pressures of commerce.

My book, *Wall Street*, has been in U.S. bookstorFrom PHILLPS@xxxxxxxxxxxxxxxx  Tue Jun 24 08:18:36 1997
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Date:    Mon, 23 Jun 97 16:53 LCL
From:    PHILLPS
To:      <pen-l@xxxxxxxxxxxxxxxxxxxxxxxxx>
Subject: K/Y ratio

Doug,
  Could not there be an additional explanation in the so-called
Leontieff paradox  -- that the US exports labour intensive goods
because the labour embodies a great deal of 'human capital'.  That
is, is it not possible that when human capital is added to physical
capital, the K/Y ratio would rise both absolutely and relatively.
This would also imply that capital is exploiting the workers
investment in human capital as well.
Paul
Paul Phillips,
University of Manitoba.