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Racer Anthony (thetrojanhorse)
Race Number 101
Date Thu, 26 Jul 2018 17:43:34 +0000
Speed 87 WPM Try to beat?
Accuracy 95.8%
Rank 1st place (out of 5)
Opponents ravneet_b (3rd 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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