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arXiv · 1612.06855

Information, Impact, Ignorance, Illegality, Investing, and Inequality

Bruce Knuteson
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Abstract

We note a simple mechanism that may at least partially resolve several outstanding economic puzzles, including why the cyclically adjusted price to earnings ratio of the S&P 500 index has been oddly high for the past two decades, why gains to capital have outpaced gains to wages, and the persistence of the equity premium.

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Bruce Knuteson. 2018-02-13. Information, Impact, Ignorance, Illegality, Investing, and Inequality. https://arxiv.org/abs/1612.06855

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