sexta-feira, abril 09, 2021

Promotor da concorrência imperfeita, dos monopólios informais e das rendas pornográficas - sempre

Há anos que escrevo aqui sobre o truque alemão e a doença anglo-saxónica. Interessante apanhar isto em "The Visionary Realism of German Economics: From the Thirty Years' War to the Cold War". 

"The point of divergence between neoclassical economics and evolutionary economics can be traced back to pre- 19th Century philosophy. The Plato- Cusanus- Bruno- Leibniz- Wolff tradition has a dynamic world view emphasizing new knowledge and production— cast in the mode of ‘werden’, or becoming. The modern Anglo- American tradition is cast around the concept of ‘sein’— being. It emphasises a mechanical division of labour, and at its core we find the process of barter and exchange rather than production.[Moi ici: Interessante esta hipótese para a génese da diferença]

In the Plato- to- Wolff tradition, Man is different from animals because of his ability to think rationally according to principles, e.g. abstraction. Economics in this tradition becomes an optimistic science, because of Man’s seemingly unlimited capacity to invent. Economics in the English barter- centered tradition becomes a dismal science because, following up in Adam Smith’s metaphor, it is not clear why and how more dog bones, not to speak of canned dog food, would suddenly appear among a society of bartering dogs. The failure of neo-classical economics to incorporate technical change is deeply rooted in this tradition of seeing Man essentially as a bartering animal, and not as a creative and inventing one. Smith’s crucial insight on the ‘division of labour’, which in the end could not be attributable to barter alone, has not been incorporated into present mainstream economics. Mainstream economics focuses on ‘Man the Consumer’, whereas in the Wolff tradition focus is on ‘Man the Producer’.[Moi ici: Percebo agora o ponto de vista de Vera Gouveia Barros]

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Another sign of Smith’s failure to see the importance of new ideas is his view that the rate of profit will have to fall. It is not well known that this idea, which was later to gain much prominence with Marx, actually originates with Adam Smith. In the absence of new ideas and inventions, the rate of profit will fall for three reasons, and it is not clear which of the three, or all, Smith refers to52. First, the rate of profit will fall because of a tendency towards a more perfect competition. Secondly, the rate of return on capital will fall because there will be more capital around, and more capital chasing the same number of investment opportunities will lead to a falling rate of profit. Thirdly, continuing progress would depend on a further division of labour. This Smith saw as tied to geographically expanding markets, which eventually will be saturated. Both Smith and Ricardo fail to understand that all these tendencies will be counteracted by a flow of new ideas and inventions which will both a) Increase the demand for capital in a growing economy, and b) Add new products which initially will be traded under conditions of temporary monopolies. This mechanism, whereby capitalists continuously have to seek new ideas and innovations in order to keep up the profit rate, is at the core of the Schumpeterian system. In this system, the fall of nations is accompanied by capital flight which starts when the national system fails to produce innovations.

In the English- based mainstream economics, under the assumption of perfect information, new learning is absent— or must be seen as ‘manna from heaven’. It is not clear that human will— in the form of inventions, business strategies, or economic policies— in any way can affect the size of the flow of manna. The connection between learning and welfare is here, at best, indirect through mechanical forces which are not consciously created. In neoclassical economics, all economic activities, for all practical purposes, tend to become ‘alike’. The world is populated by cloned ‘representative firms’, and government policy is supposed not to differentiate between firms or industries. In the Leibniz- Wolff cameralist tradition, as well as today’s evolutionary economics, the variety and uniqueness of human economic activities are central to the system. Canadian economist John Rae (1834) was the first to point out the connection between a society’s propensity to save and its propensity to invent: Savings were to Rae basically not a result of thrift, but of retained earnings from imperfect competition created by inventions and technical change."


 

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