Scholarly Comments on Academic Economics

Reply to Brendan Beare

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Abstract

This is our reply to Brendan Beare’s comment on our paper. While we find his criticism to be both valid and helpful, a modified version of our original model still confirms that a low elasticity of substitution between capital and labor doomed the Soviet strategy of extensive growth through capital accumulation.

This article is a response to The Soviet Economic Decline Revisited by Brendan K. Beare (EJW, May 2008).