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Can the Free Market Pick Winners? - What Determines Investment (Paperback)
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Can the Free Market Pick Winners? - What Determines Investment (Paperback)
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The purpose of this volume is to reopen the discussion of how to
develop the economic theory of investment to better model the facts
of experience and to provide policy makers with a better
understanding of how capital markets work. In this final decade of
the twentieth century, almost everyone agrees that human progress
will be closely related to the decisions regarding the investments
made to promote economic growth of output. Despite the Nobel prize
work done in recent decades, economic performance in this area
seems to have worsened. Clearly, a reopening of public discussion
on what is required is necessary. Until we get our theory right, it
is impossible to get our public policy right. This book does not
promise to provide "the" correct theory. Instead, it hopes to
stimulate the reader into an understanding of where we may have
gone wrong, and how we might rectify our mistakes.
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