Danger: liberal economist ahead
Among the most destructive things known to man is an idiot with initiative.
Brad DeLong is a liberal economist. With initiative. You do the math.
The S&P stock index now yields a 7% real (inflation-adjusted) return.
One might ask, “Brad, just when is now and what did you use as your start and stop points?”
Such questions are not unreasonable as this site says the S&P 500 Dividend Yield is 2.09% as of 4:30 pm EDT, Thu, 31 May 2012.
Or you might use the S&P 500 Total Annual Returns which is listed for 2012 as 2.05%.
Paul Krugman is also a liberal economist. With initiative.