I thought I got a fair hearing on this site. But yes, there MUST be an answer to the insanity of Friedman. "Remember the I35W bridge--who needs terrorists when there are Republicans"
About the hearing, I meant that the basic reaction is still to go to standard economics and eventually criticise it, rather than to try and build upon non-standard economics, although there are exceptions. (And I'm more guilty than most).
I just bought this book which is closely linked to the topic of this diary (link to English abstracts ), and may do a diary on the interesting bits... Auferre, trucidare, rapere, falsis nominibus imperium; atque, ubi solitudinem faciunt, pacem appellant.
They have his books written while at the University of Chicago: "Theory of the Leisure Class" and "Theory of Business Enterprise." A doo run-run-run, a doo run-run
By contrast, I once heard a Japanese professor present a paper on Veblen in Japan. All of Veblen's major works had been translated and there had been several hundred books and scholarly papers since then. It could be argued that the Japanese took Veblen more seriously than any other group.
The paper http://elegant-technology.com/TVjapI.html
The Bibliography http://elegant-technology.com/TVjapIN.html
Here's to your great success in understanding and promoting heterodox economics, Institutionalism, and Institutional Analysis. "Remember the I35W bridge--who needs terrorists when there are Republicans"
The Japanese wanted to build an automotive industry, which means they needed people to buy new cars. So the government puts together safety regulations that strongly encourage people to buy new cars every 3 or 6 years. So, people buy new cars all the time. Problem solved!
Some of the problems may be attributable to the rather tenuous state of Japanese democracy (single party rule for 50 years), allowing cooperation to fester into corruption, but they're still there.
