Krugman seems eager to fulfill Palley's prophesy. Will "to gattopardo" become a verb?
On Fri, Apr 25, 2014 at 9:36 AM, <[email protected]> wrote: > > Krugman's blog at > http://krugman.blogs.nytimes.com/2014/04/24/on-gattopardo-economics/?_php=true&_type=blogs&_r=0 > > says: > "2. If you believe in, or even use, marginal productivity theory, you are > conceding that capitalists deserve their income. > > Neither of these things are true. Nothing about marginal productivity > theory depends on the exact truth of a simple aggregate production function > with capital defined by a single number. And saying that capital gets its > marginal product in no way says that the people who own that capital > deserve what they get." > > It looks like Krugman is assuming that economists on the left are taking a > moral position instead of one that maximizes productivity. > > > -- > > Ron > > > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > > -- Cheers, Tom Walker (Sandwichman)
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