Brenner on competition

christian a. gregory driver at nervm.nerdc.ufl.edu
Mon Sep 14 13:35:37 PDT 1998


michael perelman wrote:


>I do not see much recognition of Rakesh's last step. Brenner describes
>pressures to lower rates of capacity utilization and even to scrap old
>capital, but I did not see any acknowledgement of the devalorization of the
>remaining capital stock.

yeah, he even says that fixed capital is understood as "free" (26), which doesn't make much sense to me. to anyone else?

best christian



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