The Japanese have a term, which they have used for industrial policy, kato kyoso (excessive competition), which they want to avoid during downturns. Hence they allow recession cartels to be formed to hold prices up instead of encouraging cut-throat competition and lower prices. This I believe is what Michael is saying.
Anthony On Thu, Aug 12, 2010 at 10:42 PM, Michael Perelman < [email protected]> wrote: > Charles is close to what I said: economists say competition is good and > depressions bad, but depressions are a form of the intensification of > competition. > > > On Thu, Aug 12, 2010 at 03:58:00PM -0400, Shane Mage wrote: > > > > On Aug 12, 2010, at 3:46 PM, c b wrote: > > > > > >CB: Michael Perelman: > > > > > >"Most economists would say competition is good and depression is bad. > > >But depression is intense competition." > > > > Isn't it that what most economists say is more like "government and > > monopolistic restraints on competition are bad" with many adding > > "but depression is worse?" > > > > > > > > > > Shane Mage > > > > "All things are an equal exchange for fire and fire for all things, > > as goods are for gold and gold for goods." > > > > Herakleitos of Ephesos, fr, 90 > > > > > _______________________________________________ > > pen-l mailing list > > [email protected] > > https://lists.csuchico.edu/mailman/listinfo/pen-l > > > -- > Michael Perelman > Economics Department > California State University > Chico, CA 95929 > > Tel. 530-898-5321 > E-Mail michael at ecst.csuchico.edu > michaelperelman.wordpress.com > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Anthony P. D'Costa Professor of Indian Studies and Research Director Asia Research Centre Copenhagen Business School Dalgas Have 15 DK-2000 Frederiksberg, Denmark Ph: +45 3815 2572 Fax: +45 3815 2500 http://uk.cbs.dk/arc www.cbs.dk/india http://www.thisismodernindia.com/this_is_modern_india_about_us.html xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
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