I was thinking about the role of subjectivity in economic theory. does this make sense: With Keynes and Marx, subjective considerations (expectations) drive real investment. With Hayek, subjective considerations determine values in the product market, while objective factors determine real investment.
-- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
