Max Sawicky writes:
Coase is unradical in the sense of recognizing hierarchy
but not power. There is an efficiency rationale for
the size or scope of a firm -- economizing on a bundle
of transactions -- but this does not answer the question,
who gets to be 'coordinator'? Coase takes
I discussed the concept of the virtual company with a Marxist friend once,
and he had an idea. He said, you know how Marx sketches the capitalist
production process as the circuit:
M-C(MP+LP)-P-C'-M'
[_]
Well, he said, the virtual company is the same formula, but then it goes
Michael Perelman writes:
Exactly. Why is it the responsibility of the rate payers to bail out the
share holders? Are the corps. willing to lower rates when profits are
flush?
We discussed this two years ago. The responsibility of the rate payers was to pay a
sufficient amount for
NYTimes.com
2 Top Officials in Hong Kong Resign in Wake of Protests
July 17, 2003
By KEITH BRADSHER
HONG KONG, July 16 - Two weeks of street protests here
produced a government crisis tonight as two top officials
announced their resignations and the territory's chief
executive said he would fly
Claiming Independence, Asserting Personal Choice
US: feminism lite
_
The collective action that changed women's public and
private lives in the United States is over: personal
choice is now seen as the only true value.
By Katha Pollitt *
Le Monde
President Bush has announced his plan to select Dr. W. David Hager to
head up the food and Drug Administration's (FDA) Reproductive Health
Drugs Advisory Committee. The committee has not met for more than two
years, during which time its charter has lapsed. As a result, the Bush
Administration is
A few weeks ago, wrote Wendy Murphy, a professor at Harvard Law School, I
asked my students (all women) to raise their hands if they believe in social
equality for women: they all raised their hands. Then I asked if they
believe in economic equality for women: they all raised their hands. Then I
A couple of thoughts/questions:
1. You state that the employee must work for someone else because of the
lack of capital, but Coase suggests (demonstrates?) that the firm
(employer-employee relationship) exists because of transaction costs.
Therefore, even if every worker starts with his own
http://www.latimes.com/features/lifestyle/la-et-goetz18jul18192424,1,4074845.story
http://www.latimes.com/features/lifestyle/la-et-goetz18jul18192424,1,4074845.story
Berlin offers Marcuse respect and a final home
The philosopher who inspired a generation of '60s radicals in the U.S. died in
- Original Message -
From: Tom Walker [EMAIL PROTECTED]
They are private companies, but the enormous scope of their influence
comes
largely as a result of their government-conferred power.
1. Who said it?
2. What was the circumstances?
3. Which private companies was s/he referring
How about this one:
Men naturally rebel against the injustice of which they are victims.
Frederic Bastiat, author of Economic Harmonies, criticised by Karl Marx.
Oops I googled to check if I got it correct. To my great surprise, I as a
naive young socialist was one day accosted in New Zealand
You googled? But you didn't answer 2. and 3.
Ian wrote:
What, is Lieberman's staff lurking on Pen-L?
Tom Walker
604 255 4812
I think this points to the
necessary role of the entrepeneur in the equation.
David Shemano
That is what Hayekians say about why you need
capitalism, not just markets, but I do not understand
why entrepreneurship requires ownership. Hell, most
capitalist entrepreneurship is corporate, and the
- Original Message -
From: Tom Walker [EMAIL PROTECTED]
You googled? But you didn't answer 2. and 3.
Ian wrote:
What, is Lieberman's staff lurking on Pen-L?
===
No. Enron hearings iirc.
Ian
This is the sort of simplistic answer that serves conservatives well but
of course it has little to do with what happened. What happened was that
the utilties had the legislature make the rate payers pay not "a sufficient
amount for electricity to allow the electric companies to realize a
MEDIA ADVISORY from the Conservative Watchdog Group, Judicial Watch
CHENEY ENERGY TASK FORCE DOCUMENTS FEATURE MAP OF IRAQI OILFIELDS
Commerce State Department Reports to Task Force Detail Oilfield
Gas Projects, Contracts
Exploration
Saudi Arabian UAE Oil Facilities Profiled As Well
Max writes:
This may be old hat to a lot of people, but I'd like to
note that in Coase the entrepreneur's function is really
mechanical. There is no innovation, creativity, or special
faculty being exercised. (All of that you can buy.)
The coordinator is just another worker. Maybe there's
Ian wrote,
No. Enron hearings iirc.
That's two out of three. For the (partial) answer to number three, I'll
defer to NYT columnist, Thomas Friedman's possibly hyperbolic reference:
There are two superpowers in the world today in my opinion. Theres the
United States and theres Moodys Bond Rating
- Original Message -
From: Tom Walker [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Sent: Friday, July 18, 2003 10:27 AM
Subject: Re: [PEN-L] No Googling quiz
Ian wrote,
No. Enron hearings iirc.
That's two out of three. For the (partial) answer to number three, I'll
defer to NYT
What would the critics say to Coase's dictum
that you can buy innovation or rent entrepreneurs?
I suppose innovation is hard to price, hence the
market for it is deficient. For inability to sell
innovation, entrepreneurs (and venture capital) are born.
This would be accentuated insofar as there
For extra credit now (an open-ended question): what are activist
groups/scholars/journalists doing to comprehend and contest the superpower
influence of these private companies with government-conferred power?
(Hint: 1. the answer is not nothing and 2. I don't know the answer. That's
why I'm
- Original Message -
From: Max B. Sawicky [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Sent: Friday, July 18, 2003 11:15 AM
Subject: Re: [PEN-L] No Googling quiz
For extra credit now (an open-ended question): what are activist
groups/scholars/journalists doing to comprehend and contest the
- Original Message -
From: Carrol Cox [EMAIL PROTECTED]
Why this lust for innovation? Most innovations are either (1)
destructive or (2) desperate attempts to compensate for the destruction
brought by prior innovations.
Carrol
P.S. I won't accept as an answer that capitalism must
Max:
What would the critics say to Coase's dictum
that you can buy innovation or rent entrepreneurs?
I suppose innovation is hard to price, hence the
market for it is deficient. For inability to sell
innovation, entrepreneurs (and venture capital) are born.
This would be accentuated insofar as
- Original Message -
From: Carrol Cox [EMAIL PROTECTED]
Eubulides wrote:
Right but the dictionary entry is saying 1873. I'm reading a review of
Heckscher's book [it's Tuesday and I don't have a tv :-)] and I'm
asking
in an historiographical and nominalist sense...
OED
While it's true that abstract concepts such as mercantilism can give a false unity to
disparate events, to conceal the close up reality of particular times and particular
circumstances... that doesn't mean that the use of such concepts _always and
everywhere_ leads to such confusion, excessive
- Original Message -
From: Devine, James [EMAIL PROTECTED]
While it's true that abstract concepts such as mercantilism can give a
false unity to disparate events, to conceal the close up reality of
particular times and particular circumstances... that doesn't mean that
the use of such
My guess is that Cole was attempting to assert that we
shouldn't say that
those policymakers/powerholders from the 16-early 18th centuries saw
themselves as mercantilists pursuing mercantilist policies.
of course they didn't (since the owl of Minerva only flies after the fact). I don't
Schumpter is relevant here because he insists (following Marx) that
innovation makes the existing price system irrelevant -- to the extent
that it is really innovative.
On Fri, Jul 18, 2003 at 02:12:55PM -0400, Max B. Sawicky wrote:
What would the critics say to Coase's dictum
that you can buy
- Original Message -
From: Devine, James [EMAIL PROTECTED]
My guess is that Cole was attempting to assert that we
shouldn't say that
those policymakers/powerholders from the 16-early 18th centuries saw
themselves as mercantilists pursuing mercantilist policies.
of course they
are you disagreeing? what _are_ you saying? why should we agree with these people?
I wrote:
I don't think that Bush thinks of himself as a capitalist pawn
pursuing capitalist policies.
Ian writes:
Description
Descriptions of descriptions
Contested descriptions of
- Original Message -
From: Devine, James [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Sent: Friday, July 18, 2003 2:10 PM
Subject: Re: [PEN-L] quick question
are you disagreeing? what _are_ you saying? why should we agree with these
people?
What does it mean to say they
I asked:
are you disagreeing? what _are_ you saying? why should we
agree with these
people?
Ian:
What does it mean to say they were mercantilists if that is merely one
form of ex post description amongst possible others [and no I'm not
providing a cluster of counterfactuals to serve as
As far as I understand it, a theme in the controversy about mercantile
capitalism was whether you could call a society such as 18th century Holland
with developed commercial relations (but still a large rural population;
industrialisation took off late in Holland, namely in the last quarter of
the
Can anyone remove how to remove PEN-L
[EMAIL PROTECTED]
US war system reaps $2bn for BAE
David Gow
Saturday July 19, 2003
The Guardian
BAE Systems, Britain's biggest defence manufacturer, yesterday secured its place at
the heart of the
Pentagon's visionary new electronic warfare programme, with a contract from Boeing
worth up to $2bn.
Two north
washingtonpost.com
Corporate Reform Could Go Too Far
By Steven Pearlstein
Friday, July 18, 2003; Page E01
In my hand is a news release from the Business Roundtable that would have
been unthinkable 18 months ago.
Back then, the Roundtable's president, John Castellani, was adamant in an
interview
[EMAIL PROTECTED]
Academics in 'degrees for cash' inquiry
John Hooper in Rome
Saturday July 19, 2003
The Guardian
Eighteen people including students, university administrators, lecturers
and professors were yesterday confined by judicial order to their homes in
and around Rome as police continued an investigation
On the issue of valuing stock options: Can't they just apply Myron
Scholes' formula?
Gene Coyle
Eubulides wrote:
washingtonpost.com
Corporate Reform Could Go Too Far
By Steven Pearlstein
Friday, July 18, 2003; Page E01
In my hand is a news release from the Business Roundtable that would have
Triple Suicide Forces Japanese To Face Menace Of Loan Sharks
By Peter S. Goodman and Akiko Kashiwagi
Washington Post Foreign Service
Saturday, July 19, 2003; Page A01
OSAKA, Japan -- By the time Akiyo Nishihira squatted on the tracks with
her husband and her elderly brother in the path of an
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