Right, they should teach that marginal productivity theory created economic justice because everybody got rewarded according to their marginal product. Sraffa proved that it was BS. Samuelson and others attempted to refute him, but were unsuccessful. Solow said that it was a tempest in a teapot. Now nobody cares, but they continue to teach the same BS.
On Wed, Aug 04, 2004 at 12:07:17PM -0400, Doug Henwood wrote: > > Yeah, but nobody cares about that anymore. It was an obsession of > some weirdos in England a generation ago, but we've moved beyond that > now. > > Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
