RE: [OPE] constant returns to scale

OK, but it seems arbitrary to exclude these applied branches since what they apply is highly orthodox economics, and indeed industrial economics is not very applied.

michael
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Dr Michael Williams, BA, MSc, PhD

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-----Original Message-----
From: ope-bounces@lists.csuchico.edu [mailto:ope-bounces@lists.csuchico.edu] On Behalf Of Anders Ekeland
Sent: 02 October 2008 07:29
To: Outline on Political Economy mailing list
Subject: RE: [OPE] constant returns to scale

At 22:33 01.10.2008, you wrote:
>It is just wrong to say that IRS are not dealt with in current
>orthodox economics. Industrial/managerial/business economics are
>replete with tales of long-run average cost curves sloping down,
>perhaps to the full extent of the market, the implications of a
>minimum efficient scale large relative to the maximum extent of the
>market and so on, and the strategic implications of this.

Hi Michael,

This is just a question what one calls "orthodox economics", I do not
include ind/manag/biz economics in that concept, precisely because
they are concerned with real profit maximising and not ideological
exercises a la Samuelson, Arrow, Debreu and Hahn. And as you point
out these two schools of thought are worlds apart.

Regards
Anders

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Received on Thu Oct 2 04:01:28 2008