ley Rosser
-Original Message-
From: Forstater, Mathew [EMAIL PROTECTED]
To: [EMAIL PROTECTED] [EMAIL PROTECTED]
Date: Friday, February 02, 2001 6:08 PM
Subject: [PEN-L:7719] RE: Re: RE: Re: Re: Re: Re: recent economic trends
from Hagemann's piece in the Lowe volume:
"Bouniatian a
le in 1998 in Structural
Change and Economic Dynamics.
Barkley Rosser
-Original Message-
From: Michael Perelman [EMAIL PROTECTED]
To: [EMAIL PROTECTED] [EMAIL PROTECTED]
Date: Thursday, February 01, 2001 5:10 PM
Subject: [PEN-L:7681] Re: Re: Re: recent economic trends
Marx suggested some
: Re: Re: recent economic trends
Michael,
Fair enough.
Anybody out there know who was the first to identify
bunching specifically with technologically related investment
waves? Schumpeter did it in his 1911 Theorie der
Wirtschaftlichen Entwicklung (English translation, 1934,
The Theory
heory of industrial depressions" QJE,
17, pp497ff.
-Original Message-
From: J. Barkley Rosser, Jr. [mailto:[EMAIL PROTECTED]]
Sent: Friday, February 02, 2001 12:54 PM
To: [EMAIL PROTECTED]
Subject: [PEN-L:7711] Re: RE: Re: Re: Re: Re: recent economic trends
Mat,
So, sinc
Michael Perelman wrote,
The actual conspiracy that I was accused suggesting was that Adam Smith
wrote in such a way as to intentionally mislead his readers. In that
case, the conspiracy consisted of Adams Smith alone. So he must have
engaged in a "spiracy," since there were no cons involved in
Jim Devine wrote
saith Rev. Tom:
Sounds interesting. Could you expand a bit?
sure, I'm a sucker for such things. No -- on second thought, I can't, since
I've got too much work. Look at my article in Baiman, Boushey, and
Saunders, eds., POLITICAL ECONOMY AND CONTEMPORARY CAPITALISM: RADICAL
I may well be a conspiracy theorist, but the rest of my conspiratorial
group will not let me go public with it.
The actual conspiracy that I was accused suggesting was that Adam Smith
wrote in such a way as to intentionally mislead his readers. In that
case, the conspiracy consisted of Adams
I am not sure about this, but keynes and hayek in some
correspondence seemed to be in agreement on the causes
of the cycle but not on the remedy. It is true that
Hayek's use is wrong not only for this but also for
methodological reasons. I probably meant that
intervention of the usual kind is not
That was my reading of Smith.
Jim Devine wrote:
Michael Perelman wrote:
The actual conspiracy that I was accused suggesting was that Adam Smith
wrote in such a way as to intentionally mislead his readers. In that
case, the conspiracy consisted of Adams Smith alone. So he must have
At 06:10 AM 2/1/01 -0800, you wrote:
Here one must introduce political
economy, i.e. War, and a New World order in which
immediate re-division and even the old dream of
re-colonizing the newly independent states may not be
ruled out although highly unlikely since many of these
have already
Michael Perelman wrote:
The actual conspiracy that I was accused suggesting was that Adam Smith
wrote in such a way as to intentionally mislead his readers. In that
case, the conspiracy consisted of Adams Smith alone. So he must have
engaged in a "spiracy," since there were no cons involved in
PROTECTED]
To: [EMAIL PROTECTED] [EMAIL PROTECTED]
Date: Wednesday, January 31, 2001 5:17 PM
Subject: [PEN-L:7614] Re: Re: Re: Re: Re: recent economic trends
At 01:29 PM 1/31/01 -0500, you wrote:
Marx had a bunching theory tied to replacement
wave cycles a la the sort of thing now advocated
ss someone comes up with one first.
Barkley Rosser
-Original Message-
From: Jim Devine [EMAIL PROTECTED]
To: [EMAIL PROTECTED] [EMAIL PROTECTED]
Date: Wednesday, January 31, 2001 5:17 PM
Subject: [PEN-L:7614] Re: Re: Re: Re: Re: recent economic trends
At 01:29 PM 1/31/01 -0500, you wrote:
Here is a section from my Marx book regarding Marx's theory of replacement
cycles. Notice Engel's firm rejection at the end.
The simplest of these versions of a reproduction crisis reflected the life
cycle of fixed capital. This idea was first broached when Marx was reading the
works of
ley Rosser
-Original Message-
From: Michael Perelman [EMAIL PROTECTED]
To: [EMAIL PROTECTED] [EMAIL PROTECTED]
Date: Thursday, February 01, 2001 2:33 PM
Subject: [PEN-L:7672] Re: recent economic trends
Here is a section from my Marx book regarding Marx's theory of replacement
cycles. Noti
To: [EMAIL PROTECTED] [EMAIL PROTECTED]
Date: Thursday, February 01, 2001 2:33 PM
Subject: [PEN-L:7672] Re: recent economic trends
Here is a section from my Marx book regarding Marx's theory of replacement
cycles. Notice Engel's firm rejection at the end.
The simplest of these versions of a re
Does the oncoming recession represent a typically
keynsian business cycle or is there a Hayek story
where given the extent of misallocated investments in
the new technology (bunching up shumpeterian
innovation), bankruptcies on mass are the way to deal
with the problem and intervention may add
Ali wrote: Does the oncoming recession represent a typically keynsian
business cycle or is there a Hayek story where given the extent of
misallocated investments in the new technology (bunching up shumpeterian
innovation), bankruptcies on mass are the way to deal with the problem and
The investment bunching business cycle theory begins with Marx. Robertson
picked it up from him, making it respectable. Hayek got his theory of
bunching from Mises. Incidentally, David Laidler's Fabricating the
Keynesian Revolution does a good job of telling this story -- without
mentioning
: recent economic trends
The one thing that Walker/Vatter neglected to point out is that the recent
investment is not in very durable capital goods, so the depreciation is
very high. Thus, net investment is not as high as gross investment
figures suggest.
The review of my book in Challenge was very
D]
Date: Wednesday, January 31, 2001 5:21 AM
Subject: [PEN-L:7579] Re: recent economic trends
Does the oncoming recession represent a typically
keynsian business cycle or is there a Hayek story
where given the extent of misallocated investments in
the new technology (bunching up shumpeterian
inn
001 12:05 PM
Subject: [PEN-L:7587] Re: Re: Re: recent economic trends
The investment bunching business cycle theory begins with Marx. Robertson
picked it up from him, making it respectable. Hayek got his theory of
bunching from Mises. Incidentally, David Laidler's Fabricating the
Keynesian Re
a.
Barkley Rosser
http://cob.jmu.edu/rosserjb
-Original Message-
From: J. Barkley Rosser, Jr. [EMAIL PROTECTED]
To: [EMAIL PROTECTED] [EMAIL PROTECTED]
Date: Wednesday, January 31, 2001 1:14 PM
Subject: [PEN-L:7595] Re: Re: recent economic trends
Just for the record, I have
Jr. wrote
Ali,
It may be Schumpeterian, but it is probably not
Hayekian. In the Hayekian case, the overinvestment
occurs because monetary policy was "too easy"
and pushed the "market rate of interest below the
natural rate of interest." Maybe one can argue that
the Fed should not
Lisa Ian Murray [EMAIL PROTECTED]
To: [EMAIL PROTECTED] [EMAIL PROTECTED]
Date: Wednesday, January 31, 2001 2:09 PM
Subject: [PEN-L:7601] RE: Re: Re: recent economic trends
Jr. wrote
Ali,
It may be Schumpeterian, but it is probably not
Hayekian. In the Hayekian case, the overinvestme
.
Sent: Wednesday, January 31, 2001 11:31 AM
To: [EMAIL PROTECTED]
Subject: [PEN-L:7603] Re: RE: Re: Re: recent economic trends
Ian,
Exactly the point. There is no patience. In
a true boom there is a mania for the quick return
that takes over, and that is seen (rightly at least
At 01:29 PM 1/31/01 -0500, you wrote:
Marx had a bunching theory tied to replacement
wave cycles a la the sort of thing now advocated
by Kydland and Prescott ("real business cycles").
The latter even attribute their beginnings to "technology
shocks."
But Marx emphasized the demand side
At 02:50 PM 1/31/01 -0800, you wrote:
Jim Devine wrote,
it's on the "cost of living" inflation rate, something that first appeared
in rudimentary form in pen-l a couple of years ago. The basic idea is that
if you include non-market aspects of the cost of living as part of a
measure of
Jim Devine wrote,
it's on the "cost of living" inflation rate, something that first appeared
in rudimentary form in pen-l a couple of years ago. The basic idea is that
if you include non-market aspects of the cost of living as part of a
measure of average prices (the actual price of buying
The one thing that Walker/Vatter neglected to point out is that the recent
investment is not in very durable capital goods, so the depreciation is
very high. Thus, net investment is not as high as gross investment
figures suggest.
The review of my book in Challenge was very flattering. What J.
At 09:20 PM 01/30/2001 -0800, you wrote:
The one thing that Walker/Vatter neglected to point out is that the recent
investment is not in very durable capital goods, so the depreciation is
very high. Thus, net investment is not as high as gross investment
figures suggest.
that's true.
The
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