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Societies for the History of Economics

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Societies for the History of Economics <[log in to unmask]>
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Humberto Barreto <[log in to unmask]>
Date:
Thu, 8 Apr 2010 15:11:45 -0400
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Societies for the History of Economics <[log in to unmask]>
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Pat Gunning asked:
Robin, what in your opinion is their place in the long run development
of the capitalist system?


The nature of economic agents and markets being what they are,
bubbles are a necessary, if unfortunate, joint product of
the Very Long Run processes of invention and innovation -- the
"creative destruction" that is the great success of the capitalist
market system.

Robin Neill
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