[EMAIL PROTECTED] 07/14/00 10:52AM
Louis Proyect wrote:
The most interesting points were made around the question of innovation.
Kotz makes a convincing case that competition such as the kind that exists
in the Adam Smith model is HOSTILE to technical innovation. Capitalist
firms would
G'day, Michael,
Sez you:
Wow! Summers has discovered Schumpeter!
Geez, I'd love to know where Schumpeter says that stuff about monopoly
rents being requisite for investment! I'd missed that in my
vulture-pecking of the great man's corpus, and it'd fit some stuff I'm
writing on
It is a major theme of his Capitalism, Socialism and Democracy.
Rob Schaap wrote:
G'day, Michael,
Sez you:
Wow! Summers has discovered Schumpeter!
Geez, I'd love to know where Schumpeter says that stuff about monopoly
rents being requisite for investment! I'd missed that in my
Glad it was only a major theme - else I'd be a bit embarrassed at missing
it ...
Glowing redly,
Rob.
It is a major theme of his Capitalism, Socialism and Democracy.
Rob Schaap wrote:
G'day, Michael,
Sez you:
Wow! Summers has discovered Schumpeter!
Geez, I'd love to know where
About three years ago I attended a panel at the Socialist Scholars
Conference on markets in socialist economies. It was chaired by Al
Campbell, an ex-Trotskyist who now teaches economics at the University of
Utah, which is quite an anomaly. The economics department there is reputed
to be one of
Excellent post, Louis. I would add only one minor point. My understanding was
that the Soviet economy continued to grow during the 70s, but that the rate of
growth declined quite a bit. The Star Wars hoax made the Soviets think that
they would have to significantly increase military
At 10:11 AM 07/14/2000 -0400, you wrote:
It was chaired by Al
Campbell, an ex-Trotskyist who now teaches economics at the University of
Utah, which is quite an anomaly. The economics department there is reputed
to be one of the most Marxist-friendly in the country, while the state of
Utah is also
The story I got was that Utah wanted to show that it was not just a bunch
of Yahoos, so they gave a space to the econ. department. Now, they have
been told, no more lefties. Hire conventionally. I do not think that
there is a single major department that would intentionally hire a lefty
today.
michael perelman wrote,
Now, they have been told, no more lefties. Hire conventionally.
Presumably it was "the free market in ideas" that told them and not some
bureaucratic command structure. Or am I feigning naivety?
Temps Walker
Sandwichman and
Bell Labs was a major innovator for many decades, but as soon as the
phone companies were broken up, Bell Labs switched to market research
from pure science or engineering.
so Lucent (nee Bell Labs) has shifted dramatically away from fundamental
research (as I've suspected)?
Jim Devine
very much so, but not to market research, but to market-oriented research.
Jim Devine wrote:
Bell Labs was a major innovator for many decades, but as soon as the
phone companies were broken up, Bell Labs switched to market research
from pure science or engineering.
so Lucent (nee Bell
We at the Econ Department at the University of Utah have
been taking turns, sometimes hiring neoclassical economists
or econometricians, and sometimes radicals. Whenever a
mainstream position has to be filled, the hiring committee
works very hard to get someone congenial with the heterodox
Frank is a Solidarity member, friend of mine, teaches at U-Mich. His usual work is
extremely technical. I can follow most economist's math, but not Frank's. I am glad to
hear that he is now doing some empirical work.
Lou P writes:
Some professor named Frank Thompson, whose work I was not
Actually, Matthew Evangelista has established that the Star Wars hoax did not induce
the Soviets to increase military expenditures. Soviet growth rates are a vexed matter.
Your statement of the matter represents the normal view as of, say, 1985, and it still
may be right, but there were other
At 02:18 PM 7/14/00 -0400, you wrote:
Frank is a Solidarity member, friend of mine, teaches at U-Mich. His usual
work is extremely technical. I can follow most economist's math, but not
Frank's. I am glad to hear that he is now doing some empirical work.
He's a friend of mine, too, and I'm
Larry Summers has discovered "the new natural monopolies" -- where monopoly
profits are required to motivate investment. See his speech
in early May --
"The New Wealth of Nations"
Remarks by Treasury Secretary Lawrence H. Summers
Hambrecht Quist Technology Conference
San Francisco, CA
Brad
Incidentally, Bill Casey got the Saudis to jigger the oil price in exchange for
military weapons, further disrupting the Soviet economy.
[EMAIL PROTECTED] wrote:
Actually, Matthew Evangelista has established that the Star Wars hoax did not induce
the Soviets to increase military
Wow! Summers has discovered Schumpeter!
Eugene Coyle wrote:
Larry Summers has discovered "the new natural monopolies" -- where monopoly
profits are required to motivate investment. See his speech
in early May --
"The New Wealth of Nations"
Remarks by Treasury Secretary Lawrence H.
Actually, Matthew Evangelista has established that the Star Wars
hoax did not induce the Soviets to increase military expenditures.
Soviet growth rates are a vexed matter. Your statement of the matter
represents the normal view as of, say, 1985, and it still may be
right, but there were other
No. You can use it, but it's public domain. I'd appreciate acknowledgements if it's
that good. --jks
"... as usual with planned economies, no good and accurate
information was available." Oh, that's cruel! Oh, that's mean! I'm
going to have to remember that.
May I purchase intellectual
Lou wrote:
By all objective measurements, the Soviet economy was functioning quite
well up until the mid-70s. What this upper crust of the officialdom was
reacting to was not poor performance, but their own class interests.
Kotz Weir write in _Revolution from Above: The Demise of the Soviet
to: [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Subject: [PEN-L:21677] Re: Markets and socialism
A very interesting and informative post. I have heard that there is in effect a
new stratification of workers in Cuba depending upon whether they work in the
tour
A very interesting and informative post. I have heard that there is in effect a
new stratification of workers in Cuba depending upon whether they work in the
tourist related industry or not. Pay in this area is far above that in the
state or public sector. Also, the production of co-operative
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