While the least profitable 25 per cent of companies are making losses, returns on equity for this group have risen slightly over the past few years. These companies, however, tend to have very little debt overall so there is little potential for flow-on effects to the financial sector.
D. CONCLUDING REMARKS Even though the Porter Commission had some remarkable insights, there is no doubt that there has been a major change in views since the 1960s with respect to the objective of monetary policy and the mechanisms through which policy works. Two factors stand out in trying to understand the change.