The Best Investment Writing Volume 5: Andrew Patterson, Vanguard - The Idea Multiplier: An acceleration in innovation is coming
The Meb Faber Show - Better Investing
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The Impact of Ideas on Productivity
The more productive a person is, the faster that person should expect his or her wages to grow. The link between productivity ad accet returns, though not as direct, is still significant. It is productivity relationship with the risk free interest rate and the discount rate used in pricing stocks and bonds. As is true of other macro economic indicators, this relationship is most relevant over the long term.
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