Tuesday, May 06, 2014

Some Points Of Agreement

Consider:

  • "...there is a crucial distinction between financial capital and capital goods."
  • "Interest is not the return to physical capital."
  • "Interest is not the 'Marginal Product of (physical) capital'."

These quotes are from Robert P. Murphy. (See here also.) I have written about Murphy before, including his take on Sraffa.

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