Full text: Comment on Professor Kurz's Paper

4 
the economy at a given mo memt of time depends on the path 
of accumulation the economy followed in the past" (p.2). 
His answer is that the conditions which determine 
the long run equilibrium position are continuously 
changing in time and that they depend inter alia also 
on accumulation. He illustrates this by reference to 
economies of scale, R&D, innovations, technology and 
organisation. He might very well have added " the balance 
of power in the conflict over distribution" (p.24 ) 
which is historically determined as the classics would 
have stressed. 
But if the long run position is continuously moving 
in response to all these dynamic factors is it not the 
case that interest must necessarily shift to them and 
to the question how the changes in these determinants 
of the long run equilibrium can themselves be explained?
	        

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