In Table 3, we summarize the findings of this section. In each row of the table, we list the source and coverage of the data, the information available — either the market values or the price-earnings ratios — and our estimate of the total market value of all . companies relative to GNP. As we noted earlier, the estimate we believe to be the most reliable is Sloan’s (1936), which implies a total market value of times GNP. But this estimate lies between the higher estimates based on S&P companies and the lower estimates of Fisher (1930), Jovanovic and Rousseau (2001), and that based on.
