From: "Jim Devine"
The Professor and the Columnist [by David Warsh] To the long list of sharp reactions provoked around the world by George W. Bush now must be added another: the decision last week by the Royal Swedish Academy of Sciences to give its 2008 Nobel Prize in economics to Paul Krugman, 55, of Princeton University and The New York Times. Not that the honor is in any sense undeserved. On the contrary, it has long been anticipated; for two decades, it has been a question of how and when. The central part that Krugman played in overturning 175 years of conventional thinking about international trade by introducing the analytic tools of monopolistic competition is by now something of a legend, thanks to two autobiographical essays as forthcoming as any in economics ^^^^^ CB: Interesting. In 1916, Lenin formulated the concept of monopoly competition ( competition in monopoly capitalism as fiercer even than "free" competition) One of the most succinct statements of this principle by Lenin is quoted in Nitkin's _Fundamentals of Political Economy_: "Imperialism cannot eliminate competition. In fact it is this combination of antagonistic principles, viz, competition and monopoly, that is the essence of imperialism, ...' quoting Lenin "Comments on the Remarks Made by the Committee of the April All-Russian Conference, Collected Works, Bol. 24, Progress Publishers, Moscow, 1974, p465). In _Imperialism_ , Lenin discusses monopoly competition as _fiercer_ than the competition in the pre-imperialist phase of capitalism This message has been scanned for malware by SurfControl plc. www.surfcontrol.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
