by Summary:
Nobel Laureate Edward Prescott claimed in 1999 that capitalism is inherently stable, and “absent some change in technology or the rules of the economic game, the economy converges to a constant growth path with the standard of living doubling every 40 years”. 30 years earlier, the maverick economist Hyman Minsky made the opposing claim that ...
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Nobel Laureate Edward Prescott claimed in 1999 that capitalism is inherently stable, and “absent some change in technology or the rules of the economic game, the economy converges to a constant growth path with the standard of living doubling every 40 years”. 30 years earlier, the maverick economist Hyman Minsky made the opposing claim that ...
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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