In further response to Doug's question about how capitalism works, the other part of the process is supposed to be investment in more modern capital stock which can replace the displaced capital stock.
-- 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
