----------------- HES POSTING ----------------- Tony Brewer said "Two more comments. First, I don't believe that any competent practising economist would claim that there are 'irresistible natural laws' in economics like those of physics. The whole tendency is away from that kind of thinking with the development of the economics of information and game theory." Roy Davidson here: Perhaps it depends upon what one understands by natural law. No doubt most neo-classical economists would reject natural law. But in classical political economy dealing with the laws of the production and distribution of wealth, natural laws loomed large. Certainly Ricardo's law of rent is applicable as a universal truth for all societies. John Stuart Mill believed that the production of wealth is governed by natural law but the distribution of wealth is determined in any way the society sees fit. Others, following in the classical tradition believed both the production and distribution of wealth is governed by natural law. ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]