Michael Perelman asked, >Suppose you are given an exam which asked >you to explain, using neo-classical categories, how market economies >throughout the world could experience at the same time >1) rapid technological increase >2) falling wages >3) relatively stable profits >Cobb Douglas functions are optimal. I would politely explain to the person who handed me the exam that I am not enrolled in any economics course and therefore am not constrained to use neo-classical categories even if I do choose to explain the dilemma. Otherwise known as the gordian knot solution. Regards, Tom Walker, [EMAIL PROTECTED], (604) 669-3286 The TimeWork Web: http://mindlink.net/knowware/worksite.htm
