E-Capital: The Link between the Stock Market and the Labor Market in the 1990s

E-Capital:The Link between the Stock Market and the Labor Market in the 1990s Robert E. Hall Over the past decade, new technologies based on computer software began to transform the production and distribution of goods and to form the basis of new goods in the U.S. economy. The value of the stock market rose tremendously, with many of the largest increases among firms implementing the new technologies. Figure 1 depicts this increase in relation...