----------------- HES POSTING ----------------- 
 
One of the best discussions is to be found in Marshall, who  
distinguishes the Market Period, the Short Run, the Long Run, and the  
Very Long Run by progressively reducing the exogenous factors, that  
is, the things that are to be taken as given.  What  distinguished John  
Rae's economics was his insistence on endogeneity for all relevant  
factors. There would seem to be no difficulty with the concepts of  
endogeneity and exogeneity.  There is difficulty in the way in which the  
concepts are used, that is in following the pattern of given and non- 
given in the assertions of different economists.    
 
Robin Neill 
 
------------ FOOTER TO HES POSTING ------------ 
For information, send the message "info HES" to [log in to unmask]