p. 6: in Harberger, the corporate income tax had a relatively trivial
impact _on what_? prices, allocation of resources, investment
spending?
also, I think the stuff about Schumpeter on page 10 stands out as not
fitting in.
page 12: the employment loss from monopoly is non-existent is a world
assuming full employment (i.e., Harberger's imaginary world).
page 15: did you misspell your own name ("Perlman")? in any event, the
reference does not show up in the bibliography.
page 19: "shock therapy" does not seem an apt term here.
page 20: "neoclassical theory" should be "as then practiced" or "as
practiced at the University of Chicago." I think Leibenstein's X
efficiency is currently accepted by most economists outside of the U
of C.
(in passing, I should mention that from a survey of Leibenstein's
work, it seems that he saw X efficiency as explained by unresolved
conflicts within firms.)
p. 23: which Marx is it? Groucho? Chico?
p. 25: Durocher's comment is simply about externalities. It should be
obvious to any U of C economist -- as long as he or she drops the
assumption (as Leibenstein did) that the firm is an unbreakable whole
(or that the only division is between the "entrepreneur" and the firm,
his or her tool).
by the way, Alchian and Demsetz (I believe) have an article which is
akin to Leibenstein's but they see profits as the reward for (in
effect) minimizing X-inefficiency. If you want, I can find it.
an informative and interesting article!
On Thu, Aug 6, 2009 at 8:44 PM, michael
perelman<[email protected]> wrote:
>
> I have written a paper that uses two episodes to illustrate the nature of
> Chicago economics. It is being rewritten for a mainstream journal, so I
> have to pull my punches. I would appreciate any comments.
>
>
> Read more at:
>
> http://michaelperelman.wordpress.com/2009/08/07/harberger-triangles-okun-gaps-and-x-efficiency/
> --
> Michael Perelman
> Economics Department
> California State University
> Chico, CA
> 95929
>
> 530 898 5321
> fax 530 898 5901
> http://michaelperelman.wordpress.com
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>
--
Jim Devine / "All science would be superfluous if the form of
appearance of things directly coincided with their essence." -- KM
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