Jim's very useful comments make me very grateful for participating in the list.
Michael Perelman Economics Department California State University Chico, CA 95929 530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com -----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of Jim Devine Sent: Saturday, August 08, 2009 8:51 AM To: Progressive Economics Subject: Re: [Pen-l] Harberger Triangles, Okun Gaps, and X Efficiency 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 > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- Jim Devine / "All science would be superfluous if the form of appearance of things directly coincided with their essence." -- KM _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
