"michael perelman" <[email protected]> wrote:
> I hope that the title explains the contents > http://michaelperelman.wordpress.com/2013/10/05/beijing-paper-constant-capital-accumulation-sustainability-and-economic-theory/ > I think that you nailed the problem when you wrote: > The temporary solution in the 19th century American economy was a wave of > mergers as a means > of avoiding competition. However, the mergers created new problems. For > example, corporations, > freed from competitive pressures, did little to advance technical change, > which put an end to the period of rapid progress. I would like you to explain why capital doesn't do enough to advance technical change, and how socialism can do better. Georgescu-Roegen's work seems to be using physics as a model for economics, but I think that such analogies are misleading. -- Ron
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