Hey Chris we know your ego can’t stand it that you’re completely ignored by anyone who matters. You can go back to your Kangarootard convict island prison nowthe section on aggregation in their recent note is quite a joke. they are quick to ridicule others, but do not address the obvious mistake of weighting by sales rather then costs. if you weigh by cost and compare the resulting correct aggregate markup (*) to the time series on the labor share, it looks a lot less convincing. weighting by the numerator instead of the denominator is even more basic than ECON101.
* even that is a stretch b/c public companies are a selected sample, and the selection is not constant over time
^ sounds like JDL.
I'm not Chris, and their point is so obvious that I don't give them credit for it.
Shut up james.