The Radford Free Press – Page 49 – All life is problem solving.

Economics / economic theory, evolutionary economics, Herbert Simon, Pisano, Sraffa, Teece, theory of the firm /

More on What’s Missing

August 13, 2020

I suspect economic theorists are not alone in shunting to the side issues or phenomena that might upset the applecart. But they appear to do it with a determination that other disciplines mind find somewhat alarming. This is why I relentlessly and repeatedly mention Cause and his 1937 question about the existence of the firm. […]

Economics / Berle and Means, Burnham, Chandler, Foss, growth theory, Ronald Coase, Solow, theory of the firm /

The Missing Middle?

August 5, 2020

A couple of things before we get started: when I say that economics is not history, I mean exactly that. Geology is not history either. That is not the same as saying that economics ought pay no heed to history. Let’s not get confused over that. Economics is its own discipline with rules and territory […]

Economics / Arrow, Brian Arthur, Comparative advantage, Friedman, General equilibrium, increasing returns, Ricardo, Socialist Debates /

Damn Facts

July 29, 2020

It seems appropriate to mention increasing returns today. After all, this is the day on which several of our modern titans of industry are appearing before Congress to respond to the concerns raised by the gargantuan size that their respective businesses have grown to become. The CEOs of Apple, Amazon, Google, and Facebook are all […]