Quotation of the Day…
Posted By Don Boudreaux On December 11, 2011 @ 7:32 am In Myths and Fallacies,Seen and Unseen,State of Macro,The Economy,The Future | Comments Disabled
… is from page 112 of Joseph Schumpeter [1]‘s much-praised – but still-not-praised-enough – 1942 book, Capitalism, Socialism, and Democracy [2]:
There is surely no such gulf between Marx [3] and Keynes [4] as there was between Marx and Marshall [5] or Wicksell [6]. Both the Marxist doctrine and its non-Marxist counterpart are well expressed by the self-explanatory phrase that we shall use: the theory of vanishing investment opportunity.
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URLs in this post:
[1] Joseph Schumpeter: http://www.econlib.org/library/Enc/bios/Schumpeter.html
[2] Capitalism, Socialism, and Democracy: http://www.amazon.com/Capitalism-Socialism-Democracy-Joseph-Schumpeter/dp/B000ND9Z3M/ref=sr_1_6?s=books&ie=UTF8&qid=1323606499&sr=1-6
[3] Marx: http://www.econlib.org/library/Enc/bios/Marx.html
[4] Keynes: http://www.econlib.org/library/Enc/bios/Keynes.html
[5] Marshall: http://www.econlib.org/library/Enc/bios/Marshall.html
[6] Wicksell: http://www.econlib.org/library/Enc/bios/Wicksell.html
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