How about "intersubjective" factors determine real investment? Sounds more impressive, and you avoid hearing someone say, "there is no such thing as objective". Also probably more accurate.
At 00:12 15/03/2006, you wrote:
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
