Re: On Utility Theory

["A. Allan Schmid" <00549aas@xxxxxxxxxxxxxx>]

In the exchange between Alan Isaac and Herb Gintis, Gintis asks what we are
to do when faced with the necessity of making welfare judgments and asks if
he is left with "Use my own preferences."  I rather like Joan Robinson's
answer, "The Keynesian revolution has destroyed the old soporific doctrines,
and its own metaphysics is thin and easy to see through.  We are left in the
uncomfortable situation of having to think for ourselves."
>
Allan Schmid                      Phone (517) 355-2266
Dept. of Agr. Economics           FAX   (517) 432-1800
Michigan State University
East Lansing MI 48824  USA        E-Mail 00549aas@xxxxxxx