On Mon, 4 Mar 2002, Rakesh Bhandari wrote: > I think I read Desai saying somewhere that the future of the theory > of accumulation remains in a synthesis of Hayek and Marx, not in > Keynes. The notion that Hayek has a valuable contribution to make on this (let alone, more valuable than Keynes's) seems to me fashionable nonsense. I've studied his cycle theory at some length (paper in CJE a few years back) and on close examination it's incoherent, as Sraffa said. He raises some interesting issues, but makes no headway on them. Allin Cottrell.
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