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[PEN-L:3950] Re: Re: Creeping repression



>Gene's post about time is important because the Dallas Fed approach
>represents such a common gloss.  Manufactured goods generally costs less
>than they did a half century ago.  Is that because of capitalism or
>technological advances?

Karl Marx's answer would be that it was because of capitalism--that under
no previously-existing mode of production had society provided sufficient
incentives for either capital accumulation or technological advance...

Brad DeLong



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