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I also see a belief that everything is fungible and determined by investment price: "Intel constructed this factory for making chips  with $1B investment" does not mean that any wannabe with $1B can make an equivalent factory.
by rootless2 on Sun May 3rd, 2009 at 07:20:16 PM EST
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well give me a billion and I'll give it a try.

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Sun May 3rd, 2009 at 08:17:41 PM EST
[ Parent ]
... marginalist modeling tractable when extended to the whole economy. In the real world, there are lots of clumps of strong complements all over the place, and key concepts like the marginal productivity of individual inputs fall apart in the face of strong complements.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Sun May 3rd, 2009 at 08:29:07 PM EST
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