Friday, June 13, 2014
Lars Syll — Piketty and the neoclassical heart of darkness
Why Matt Rognlie's neoclassical approach fails — neoclassical models cannot deal with the emergence that knowledge involves in a complex adaptive system like a modern society and its economy. Knowledge-induced scale effects vitiate neoclassical assumptions about diminishing returns to scale.
Piketty and the neoclassical heart of darkness
Lars P. Syll | Professor, Malmo University
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