Liveblogging History: December 30, 1066: Granada Massacre

Must-Read: William Nordhaus (2004): Schumpeterian Profits in the American Economy: Theory and Measurement: "Schumpeterian profits... arise when firms...

...appropriate the returns from innovative activity... We conclude that only a minuscule fraction of the social returns from technological advances over the 1948-2001 period was captured by producers, indicating that most of the benefits of technological change are passed on to consumers rather than captured by producers.

http://www.nber.org/papers/w10433

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