=================== HES POSTING =================== I recall reading an article somewhere by, I believe, Willaim Baumol suggesting that the german foresters first developed developed present value calculations? Does anybody recall the article? Was he correct? Michael Perelman Economics Department California State University E-Mail: [log in to unmask] ============ FOOTER TO HES POSTING ============ For information, send the message "info HES" to [log in to unmask]