A Response to Professor Foss

Fikret Adaman, Pat Devine


We are grateful to Nicolai Foss for his comment on our article. Although we do not agree with his argument and consider it to be based on a fundamental misconception, his comment nevertheless raises an important point and gives us the opportunity to clarify our position on the role of institutions in the coordination of investment in a capitalist economy.

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Studies in Political Economy:
Online ISSN 1918-7033
Print ISSN 0707-8552