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September 24, 2010



'An extremist, not a fanatic' it says at the top of your blog. And you often remind us of your debt to Marxism - surely a classic example of 'Big' thinking ?

Marxian influenced economists - never mind those who call themselves political economists - might argue there are one or two rather more sturdy challenges to 'market fundamentalism' than "..showing that people are not wholly rational and selfish and that (some) markets do fail.. Surely they tend to think it all be a bit more systematic and structural than that?

Can one have a Marxism of small thoughts? isn't that a contradiction? Small thoughts may be good things - and certainly I'm as much against windy generalities as the next person - but they hardly help you live up to your own self description do they?

Paolo Siciliani

Well, you may want to look at the empirical literature researching the impact of antitrust and regulatory authorities as a (small thing) proxi for the (big thing) question raised by Cable. If your conclusions (i.e. The powerful forces towards monopoly are more or less balanced out by powerful forces towards competition)
ignores the roles played by these institutions than, you are the one in airy-fairy territory.

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