> What _does_ NCE explain?
By classical econ., I was referring to the insights of Smith et al.
> Enlighten me. After some
> decades of study, I am not sure that it explains
> _anything._ I don't deny that the law of supply and
> demand is valid
Hmm... you don't deny that the law of supply and demand has explanatory (or even I would guess predictive) power, and yet you claim classical econ explains nothing?
> Btw, I think Fitch was talking about historical
> materialism, not about Marxisn economics.
Yes, I'm sure that's correct.
> Unless you are Gary Becker, NCE has no such ambitions.
Richard Posner has such ambitions, right?