tag:blogger.com,1999:blog-4900303239154048192.post9006793285869897786..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: A Cheap Market Will Always Be Full of Cheap HustlersUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4900303239154048192.post-34276783606035426112013-06-04T10:18:50.762-04:002013-06-04T10:18:50.762-04:00"The reason why the Cobb-Douglas functional f..."The reason why the Cobb-Douglas functional form is so popular in applied work is its property according to which marginal productivity is equal to average productivity." -- Stephen Gordon<br /><br />Humbug, I say. It is popular in applied work because mainstream economists are trained to be ignorant and arrogant.Robert Vienneauhttps://www.blogger.com/profile/00872510108133281526noreply@blogger.com