[OPE-L:4570] Re: Duncan's vintages

Michael Perelma (michael@ecst.csuchico.edu)
Thu, 27 Mar 1997 08:44:05 -0800 (PST)

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Iwao Kitamura wrote:
> John wrote in [4552]:
> >Not so fast.
> How slow?

Iwao raised an interesting question. The speed is variable according to
the branch. Computer chips have been very competitive. Other
industries are less so because of various barriers to competition.

Because of this tendency for prices to fall toward marginal costs,
capital has erected all sorts of barriers to protect itself -- the most
popular today being intellectual property.

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu