On Tuesday, November 11, 2008 at 09:42:58 (-0800) Michael Perelman writes: >Markets fail for many reasons. With all the attention to the current >financial crisis, the time has come to look at another part of market >failure -- the reluctance to invest in long-lived plant and equipment. >I'm not merely thinking about the deindustrialization of the US economy, >but a more general reluctance.
Interestingly, I just last night watched a bit of the PBS show "The Journey to Palomar", about the building of the huge Hale telescope on Mount Palomar, a staggeringly long-lived and risky project. It was funded by capitalists (Yerkes, Rockefeller, Carnegie), but was not for profit as far as I know. Bill _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
