Here is one piece of the argument: many left economists (as well as more
heretical mainstreamers) have been considering the theory of the firm from the
standpoint of *generating* rather than simply using information. This leads
to an increased importance to participatory forms of organization, even though
it may conflict with capital's desire to maximize its share of output.
Examples: Bill Lazonick, Mike Best, David Levine, and maybe even myself.
Speaking of myself, my shtick regarding interactive nonconvexity & multiple
equilibria is, above all, a critique of Hayek and his followers.
Peter Dorman
