Michael Perelman
Tue, 12 Sep 2000 09:45:12 -0700
Amsden, Alice. 1989. Asia's Next Giant: South Korea and Late Industrialization (NY: Oxford University Press). see for example: 141: She argues that late industrialization benefits from "getting prices wrong." Eugene Coyle wrote: > Where can I find Alice Amsden's praise of getting prices wrong? > > At a shoot out before the Calif. PUC in San Diego a couple of weeks ago, the > neo-classical panelists just wanted to get prices right, and let the sociologists > take care of the rest. Professor Wolak from Stanford believes that getting prices > correct is the best for society, and then take care of income distribution some other > way. Low-income folks and the environment are somebody else's business, not the > economist's, according to them. > > It is an easy way to look compassionate -- and maybe even believe you are > compassionate -- never mind that the fiscal appropriations never turn up. There is a > clear echo of this psuedo compassion in Brad's approved formulation -- "... the > government should be used to redistribute income." And just when is that going to > happen? > > I argued, on the other side, that the only "correct" price is the Just Price -- > which takes into account income distribution as well as resource allocation. Despite > a forest of wooden stakes through the heart of neo-classical price theory, the faith > in it by its adherents is unshakeable. > > Gene Coyle > > Michael Perelman wrote: > > > I have never seen as concise description of social democracy. I like Alice > > Amsden's refutation of your perspective -- especially her praise of getting prices > > wrong. > > > > Brad De Long wrote: > > > > > > > > in a mixed economy, the government > > > should be used to redistribute income and the market used to allocate > > > resources; to get things backward--as Peron did, using the government > > > to allocate resources and regulating market prices to redistribute > > > income--doesn't work. > > > > > > > -- > > Michael Perelman > > Economics Department > > California State University > > Chico, CA 95929 > > > > Tel. 530-898-5321 > > E-Mail [EMAIL PROTECTED] -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]