Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
Of course, every major corporation in the world makes quite elaborate economic forecasts. Somehow, governments cannot do the same according to neolib ideology.

In fact, neolibs are required to pretend that there is no such thing as a "firm" and that economic transactions are between individuals, because otherwise they would have to deal with the differences and similarities between firms and governments. The doctrinaire libertarians will claim that the fundamental difference is that firms do not exercise police powers, but this is a fraudulent claim as if the policing of the property system on the part of the government were a natural occurrence.

For the neolib the following major factors of modern economies are invisible

  1. organizational properties of large corporations where waged employeed make decisions about OPM and essentially take on all the functions of governments incuding the planning that is supposedly impossible.
  2. Marketing - a multibillion dollar industry that makes a mockery of the full information assumption.
  3. Military and quasi-military spending - e.g. such minor firms as Boeing and Airbus.
  4. Education and public sector R&D - e.g. the internet and transistors.
by citizen k (sansracine yahoo.fr) on Mon Mar 19th, 2007 at 11:19:02 AM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Occasional Series