Thursday, January 31, 2013

in light of greenwald stiglitz....the below is wrong

"since Vickrey could intuit the policy result of his general equilibrium metastatic model
 
—perfect markets working perfectly always lead to the conclusion that government should not intervene—
 
he had no interest in expanding and formalizing metastatics as modern researchers have done."
 
d colander
 
 
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 could  we  lay out a meta static forward projection
   that revealed the  location and size of  the sub optimalities ?