Michael Perelman michael at ecst.csuchico.edu
Sun Apr 23 19:56:03 PDT 2000

Justin, the case for market efficiency does require a way to handle durable capital goods, since they require coordination over time. Prices do not provide accurate signals without some foreknowledge of the future.

JKSCHW at aol.com wrote:

> But I am not interested in H's case for capitalism, and the level of
> abstraction at which I think he got things deeply right about efficiency,
> planning, and markets is much higher than the level you are discussing here.
> Nothing in my Hayekianism depends at on on his business cycle theory or his
> views about durable capital goods. --jks


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

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