Amsden, Alice. 1989. Asia's Next Giant: South Korea and Late Industrialization (NY:
Oxford University Press).
see for example:
141: She argues that late industrialization benefits from "getting prices wrong."
Eugene Coyle wrote:
> Where can I find Alice Amsden's praise of getting prices wrong?
>
> At a shoot out before the Calif. PUC in San Diego a couple of weeks ago, the
> neo-classical panelists just wanted to get prices right, and let the sociologists
> take care of the rest. Professor Wolak from Stanford believes that getting prices
> correct is the best for society, and then take care of income distribution some other
> way. Low-income folks and the environment are somebody else's business, not the
> economist's, according to them.
>
> It is an easy way to look compassionate -- and maybe even believe you are
> compassionate -- never mind that the fiscal appropriations never turn up. There is a
> clear echo of this psuedo compassion in Brad's approved formulation -- "... the
> government should be used to redistribute income." And just when is that going to
> happen?
>
> I argued, on the other side, that the only "correct" price is the Just Price --
> which takes into account income distribution as well as resource allocation. Despite
> a forest of wooden stakes through the heart of neo-classical price theory, the faith
> in it by its adherents is unshakeable.
>
> Gene Coyle
>
> Michael Perelman wrote:
>
> > I have never seen as concise description of social democracy. I like Alice
> > Amsden's refutation of your perspective -- especially her praise of getting prices
> > wrong.
> >
> > Brad De Long wrote:
> >
> > >
> > > in a mixed economy, the government
> > > should be used to redistribute income and the market used to allocate
> > > resources; to get things backward--as Peron did, using the government
> > > to allocate resources and regulating market prices to redistribute
> > > income--doesn't work.
> > >
> >
> > --
> > Michael Perelman
> > Economics Department
> > California State University
> > Chico, CA 95929
> >
> > Tel. 530-898-5321
> > E-Mail [EMAIL PROTECTED]
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
