Gerald Levy wrote:
>
> Riccardo: what do you think Marxists can learn from the Austrians?
I am not Riccardo, but let me chip in anyway. Hayek can be useful in
small doses, but lethal when infused in larger portions.
Hayek's critique of equilibrium theory shows a glaring problem in
neo-classical economics.
More important, Hayek's theory shows the importance of allowing popular
input into the planning process -- although everybody on pen-l realizes
how contentious specifying the exact nature of this popular input.
-- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu