A not Unminor problem for the Left

Michael Perelman michael at ecst.csuchico.edu
Fri Apr 14 10:18:10 PDT 2000


That is the subject of the first half of the book from which I posted a snippet yesterday. I had asked Doug Henwood to be a co-author. He declined. It would have been a much better book with his help.

Doug Henwood wrote:


>
> This sort of analysis always ignores the immense waste in a "market"
> system - advertising, management, market research, vast markups
> thanks to brand fetishism, search costs, financiers' take, etc.
> Capitalist firms are hardly immune to all the perverse incentives you
> list too. Why would Michael Jensen have had to theorize managerial
> waste and suggest leveraged buyouts as their cure if competitive
> product markets were so elegantly self-regulating?

--

Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901



More information about the lbo-talk mailing list