But the tygers of wrath go the other way. Do not ask me why. It is just a fact I noticed when I was looking through field glasses from a machan. - Joan Robinson

It is the business of economists, not to tell us what to do, but show why what we are doing anyway is in accord with proper principles.

It seems that neither the Keynesian nor the Marxian prognosis of the future of capitalism is being fulfilled and we are left without any particular theory as to what will happen next.

It is a popular error that bureaucracy is less flexible than private enterprise. It may be so in detail, but when large scale adaptations have to be made, central control is far more flexible. It may take two months to get an answer to a letter from a government department, but it takes twenty years for an industry under private enterprise to readjust itself to a fall in demand.