I must have 10 drafts that I started over the past weeks then stopped because something changed or I realized the topic was just growing way to big to deal with in a single column.
Back of an envelope, 17% investment rate looks reasonable. Two reliable guides to the price you should pay for anything are super-profits and payback period. But a lot of the 17% doesn't turn into growth. Why, because a lot of it is replacement. Once an asset is fully depreciated for tax purposes, it disappears from the radar. If I said that ninety per cent of the productive assets of an economy are sitting on the books at nil value, there's no way you could disprove me.
Back of an envelope, 17% investment rate looks reasonable. Two reliable guides to the price you should pay for anything are super-profits and payback period. But a lot of the 17% doesn't turn into growth. Why, because a lot of it is replacement. Once an asset is fully depreciated for tax purposes, it disappears from the radar. If I said that ninety per cent of the productive assets of an economy are sitting on the books at nil value, there's no way you could disprove me.