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Racer Greg (_greg_)
Race Number 197
Date Sun, 22 Dec 2019 08:33:16 +0000
Speed 83 WPM Try to beat?
Accuracy 97.6%
Rank 3rd place (out of 4)
Opponents demons980711 (1st place) silver_steel (2nd place)

Text typed:

Ultimately, the real yield on stocks - and, therefore, through arbitrage, the real yield on longer bonds - is determined by the profitability of corporations and the real return that they earn on their capital. It is useful to distinguish between physical and financial returns. The return on physical capital includes here the return on the organization, management, and the so-called human capital - that is, the education, training, experience, and esprit de corps of the workforce.
Applied Intermediate Macroeconomics (book) by Kevin D. Hoover (see stats)

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