Jim wrote:
> which orthodoxy is that? one of Hayek's debates (Lerner?) favored the
> use of a central planning agency that set prices. That was hardly
> "orthodox" at the time or now, among socialists or even neoclassicals.
I am confused as to what you mean to say here perhaps you could clarify?
True a couple of Paretians (Lerner) joined Lange (the marginal Marxists) but they hardly represented orthodoxy. The paretians partially joined because they were so enamoured with Walrasian GE. To be consistent they had little choice. But the ascendant neoclassical school (Marshall & Pigou) hardly would have conceded that the state could coordinate markets. And we know it is not until after the calculation debate that we see neoclassical welfare economics. So by orthodox I simply mean ruling economic theory of the day. Do you mean to say that socialist and proto socialist economists were the orthodoxy of the day?