Full text: The Trend 1968 Version

The Trend 1968 Version
Motivation for new version:
Investment decision most difficult part of macro-econ. theory:
especially if one goes beyond the trade cycle, " pure cycle"
was a very unsatisfactory abstraction. Technical progress
is to be brought into trade cycle as well (as into trend).
Main topic is investment decision:
New:
1) The idea of a standard or normal rato
of gross profit which has to be earned 
(expected) in order to justify the investment.
This is the reciprocal of the pay-off period,
i.e. the number of years during in which
after which the investment must have been recovered
from the additional revenues. (gem.
E.g. if pay-off period is 5 years,
grow profit rate is 20%.


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