From: Jurriaan Bendien (adsl675281@TISCALI.NL)
Date: Wed Sep 13 2006 - 11:21:51 EDT
>Do remember that Grossman was an accomplished statistican and packed his magnum opus with historical and contemporary examples. Undoubtedly Grossman was a bright guy, but his credentials are neither here nor there, the question is whether his argument is correct. There exist plenty economists who are accomplished statisticians, capable of giving and contemporary examples, but that does not mean their hypotheses are therefore true. I think at most the reproduction schemes can prove the conditions of balanced economic growth, and various possibilities for those conditions breaking down. J.
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