Re: : RE: Lies, damned lies, and economics

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

Brad did not know about Schumpeter?

Eugene Coyle wrote:

> Of course, NC economics allows for ANYTHING.  Every time a hole in
> logic or absurd assumption is raised, the reply is "Well, yes, but ...
> " and then a new wrinkle is trotted out to preserve the
> story/propaganda for another generation.  DeLong is doing a new
> wrinkle now (new to him, apparently) with the discovery that monopoly
> and discriminatory pricing is good for society.  These people cannot
> be topped or stopped -- only ignored by us.

--

Michael Perelman
Economics Department
California State University
michael@xxxxxxxxxxxxxxxxx
Chico, CA 95929
530-898-5321
fax 530-898-5901