A recent posting on Pen-L noted that a group of economists is now
seeking to put out a new edition of Historical Statistics of the
United States and that they are asking for input about content,
scope, and format for this volume. (I assume a new edition of
this volume will be as heavily used as
Narratives for the 'libertarians' vs. 'progressives'
of 'radicals' vs. 'libertarians' dispute need stand in
exemplars (or heros and villains). A leading figure
in these narratives continues to be Friedrich Hayek, and
often his books _The Road to Serfdom_ and _The Constitution
of Liberty_.
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The Future of Work, Education, and Community in Pennsylvania
September 6-8, 1996
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Only very weak neoclassicals "define efficiency as what the market does
and then miraculously deduce that the market is efficient."
I have many students entering my classes these days who have been
bombarded with the western -- and now eastern -- medibarage that
markets always do the efficient
Eugene's last post reminds me of William J Blake's eloquent note about the
abstract nature of the neo-classical understanding of the market; William J
Blake was an American novelist, who also dabbled in economics (e.g.,
Marxian Economic Theory and Its Criticism, NY: Corden, 1939):
"One cannot
