Markets are efficient?

glevy at acnet.pratt.edu glevy at acnet.pratt.edu
Wed Jul 12 11:37:24 MDT 1995


Matt D. wrote:

  Something like 50% of new enterprises fold
> within their first year or two, right?  This is the "anarchy of capitalist
> production" is it not?

The failure of small business to compete in most markets is not primarily
a result of poor decision-making or the "anarchy of capitalist
production", but is rather the result of the concentration and
centralization of capital.  That is, most new enterprises (especially small
enterprises) are not able to compete with larger firms with a higher
productivity of labor.

Jerry


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