Thursday, November 17, 2016

For the record: maximizing firm profit is not social optimization in real market mediated environs

Institutional arrangements evolved thru historical processes are best characterized as rugged arrangements that suffice to sustain themselves until

By the accumulated consequences
         of inherent Internal  contradictions

At some most likely several conjunctures  in the path of society
The irrationality of existing sociopolitical institutional arrangements
becomes widely apparent to Clios appointed class agents of change
And ....