September 30 - September 30, 2010 Office hours Benjamin...

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September 30, 2010 Office hours – Benjamin Sperisen Tuesday 2-5 BRB 2.138 Essay #4 due Tuesday at 5 Phelps article Dynamism – constructive behavior, desirable energy Phelps rejects emphasis on consumption. However, he shares with Smith a positive attitude toward competition, and realistic suspicion of incumbents. According to Smith/Phelps: Competition is wonderful, period. Smith and Phelps don’t acknowledge the “dark side” of competition. Phelps doesn’t directly address the incumbents, but he mentions the existing businesses in Europe that are propped up. Humans get pleasure out of competition; it’s human nature to try to preserve our gains. Once we win, we don’t want to get torn down. Incumbents are bad because they block outsiders (freeze the game in their favor), and it’s human nature (as long as it’s allowed). To control incumbency, you must have something in place to dissuade it. Competition is good, only when it’s nasty. Society must embrace
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This note was uploaded on 11/18/2010 for the course ECO 327 taught by Professor Trinque during the Fall '10 term at University of Texas at Austin.

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September 30 - September 30, 2010 Office hours Benjamin...

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