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Quotation of the Day…

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… is from page 112 of Joseph Schumpeter [2]‘s much-praised – but still-not-praised-enough – 1942 book, Capitalism, Socialism, and Democracy [3]:

There is surely no such gulf between Marx [4] and Keynes [5] as there was between Marx and Marshall [6] or Wicksell [7].  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.