“If people want to anticipate the development of Capitalism over a long period a knowledge of Marx is a much more effective starting point than a knowledge of Wieser, Boehm-Bawerk, Pareto or even Marshall (though the last-named is in this respect much superior). But Marxian economics would be a poor basis for running a central bank or anticipating the effects of a change in the rate of discount.”

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About Oskar R. Lange

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