Re: Re: Re: Re: energy crises

[Jim Devine]

At 02:40 PM 6/27/00 -0700, you wrote:
>What's the difference between Nordhaus' theory and Freshman NC econ --
>"the market will solve the problem"?

it fits with freshman NC, though I think Nordhaus was being Schumpeterian 
-- and was open to the idea of the gov't helping the market. But then 
again, it's been 25 years since I read the paper.

Even if it is straight out of the text, we can't reject his argument out of 
hand. We have to point to the theory's flaws, as several have.

Jim Devine [EMAIL PROTECTED] &  http://bellarmine.lmu.edu/~jdevine