HOUSE_OVERSIGHT_029356.txt
HOUSE_OVERSIGHT_029356.txt
Why This Matters
This document discusses the inherent contradiction of capitalist theory, where the prospect of nearly free goods and services leads to an economy with near-zero marginal costs.
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This document discusses the inherent contradiction of capitalist theory, where the prospect of nearly free goods and services leads to an economy with near-zero marginal costs. The author mentions economists like Lange and Keynes who made observations about this issue. Lawrence Summers and J. Bradford DeLong revisited this problem in a joint paper at a symposium on economic policy for the information economy, recognizing that new technologies and the Internet were threatening to take capitalist systems to a near-zero marginal cost reality.
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