From: Allin Cottrell (cottrell@WFU.EDU)
Date: Thu Sep 15 2005 - 22:34:50 EDT
On Fri, 9 Sep 2005, Gerald_A_Levy@MSN.COM wrote: > Of course, we could also conduct empirical research to determine > how well different Marxian theories are able to grasp empirical > realities and trends in relation to each other. Alan Freeman > wrote a paper in 1999 on that topic, which appears at the above > site: < http://time.dufe.edu.cn/wencong/freeman/10.rtf > > > "FOUR ENDOGENOUS MARKET FAILURES WHICH (TSS) > VALUE EXPLAINS BETTER: INEQUALITY, UNEMPLOYMENT, > CRISIS AND LIQUIDITY PREFERENCE?" > > *Do others agree or disagree with Alan's claims in this paper? > Have there been any published replies or further empirical > research on these questions?* Jerry, I couldn't find the paper at that URL, but found what I suppose is that same thing at http://www.gre.ac.uk/~fa03/research/95-4mf.rtf (at least, it has the same title). I wouldn't say that this paper falls into the category of "empirical research." It is a theoretical excursus from the TSS point of view, illustrated by 4 graphs showing data from the US economy. For my part, I'm hard pressed to find any explanation of the "four failures" in the paper (crises, perhaps, but not the others). Allin Cottrell
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