calling in loans

Carrol Cox cbcox at ilstu.edu
Tue Aug 27 08:46:56 PDT 2002


eric dorkin wrote:
>
> Well, Thomas Frank says you are! :)
>
> As for Shrub's policy, it is a hands-off business
> knows best approach which seems to me derived from the
> assumptions of neo-classical econ.

I really think it is the opposite. Neoclassical econ is derived from the necessity to make sense of the "hands-off business" approach. I don't have time now to look it up, but there is a passagen in Cap. I on the Manchester cotton manufacturers "calling in" a Cambridge don to explain to the world what they (the capitalists) were doing and were going to do anyhow.

Labor in this case made it clear that they weren't going to tolerate a 12+ hour day, and after a few decades the economists changed on the "last half-hour" or whatever.

Carrol



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