Sorry, double negatives confuse me. I mean of course that the history of
the twentieth century (Marxist-Leinism, communism, fascism etc.) is an
argument against the efficiency of the market in social science.
alex
Alex Tabarrok wrote:
> Hello? If the history of the twentieth century is not an
Don't you think there is a difference between efficiency in the
intellectual arena and truth? I think that intellectual
institutions are fairly good at allocating resources to
efficiently produce "normal science" - ie, science that
refines and explores a given view of the world.
Truth may requir
Yes, I was refering to the Boulding article you mention -- perhaps we read
it differently.
Second, I think there are several reasons why Austrians have
difficulities --- some self-induced, others as a consequence of other
issues. Public choice scholars should realize that for a long period of
ti
What do you mean by the history of the 20th century being an argument for
efficiency?
Keynesianism --- 1930-1980 --- pretty good run.
Market socialism --- 1936-1985 --- pretty good run.
Market failure theory, with a benevolent despot --- 1920s -- 1960s ---
pretty good run.
I am confused. Do yo
Hello? If the history of the twentieth century is not an undeniable
argument against the hypothesis that the "market" for social science is
not efficient then what is?
Alex
--
Dr. Alexander Tabarrok
Vice President and Director of Research
The Independent Institute
100 Swan Way
Oakland, CA, 9462
Two things. First, I will grant the incentive structures of intellectual
discussions may not be the exact same as market incentives. However, the
incentives are quite similar. Certainly, if there is a mass market failure
occurring in the academic literature, there needs to be a more specific
t
Actually, I am not making (or trying to make) an argument, I am simply
interested in responses from this list given the range of ideologies. I
agree wholly with previous statements made on this list that Austrian
economics has made large contributions to economics. My question deals more
with on
I will be out of the office starting 11/26/2001 and will not return until
11/30/2001.
This message may contain confidential and/or privileged
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The institutions of property, prices and profit and loss are at best
approximated in science --- we have at best attenuated property rights,
etc. The coin of the realm in science is pretige and reputation. It
is not necessarily a cash nexus, though of course some drug research
etc. does have
What "certain institutions" does Science lack that markets have?
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Department of Economics
The University of the South
735 University Ave.
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Mark,
I am surprised you would be making this argument ... do you believe that the
"market" for legislation is efficient because it exists? Whatever is, isn't
necessarily efficient. The market for ideas in economics is a distorted
market. Fads and fashions come and go all the time. Science is
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