tag:blogger.com,1999:blog-8595404115121834255.post8817533773337165662..comments2024-03-28T03:24:05.678-04:00Comments on NAKED KEYNESIANISM: On the blogsMatias Vernengohttp://www.blogger.com/profile/09521604894748538215noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8595404115121834255.post-51668082779806887942015-05-04T14:47:57.724-04:002015-05-04T14:47:57.724-04:00He says that the Solow story is interesting becaus...He says that the Solow story is interesting because it provides: "a 'marriage' between a standard neoclassical view of how income shares of capital and labor are determined (because even if they are determined in a kind of a monopolistic competition, this is still handled by the neoclassical production function), and the distribution of the rent that responds only in part to economic, and mostly to political factors." Can't have both.Matias Vernengohttps://www.blogger.com/profile/09521604894748538215noreply@blogger.comtag:blogger.com,1999:blog-8595404115121834255.post-61176191236908905382015-05-04T09:56:42.653-04:002015-05-04T09:56:42.653-04:00What I highlighted in Milanovic's post is that...What I highlighted in Milanovic's post is that, whatever its shortcomings, he gets the "open system" nature of the Sraffian approach, in this short line: "neo-Ricardians who simply argued that the distribution between w and r can take place at any point along the w-r frontier: it is entirely politically determined."PGBhttps://www.blogger.com/profile/00176679709411717528noreply@blogger.com