Documents tagged "Lange"
Found 2 documents with this tag
HOUSE_OVERSIGHT_029356.txt
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.
HOUSE_OVERSIGHT_029355.txt
The document discusses how powerful industry leaders often try to prevent entry of new enterprises and innovations to protect their capital investments. However, this can create a positive-feedback loop by preventing capital from investing in profitable new opportunities, leading to an economic stall. The author cites a struggle between capitalist and capitalist as described by Lange, who suggests that attempts to block economic progress always fail due to the constant search for innovation by entrepreneurs. In the long run, productivity continually pushes costs and prices down, forcing profit margins to shrink. Despite this, some economists like Keynes have expressed optimism about the prospect of nearly free goods and services in the future.