A rejoinder

The remark that the long run is a benchmark that would help stock market analysts understand the short run was taken out of context by Murray Glickman. The observation was made at a presentation of a major client where the audience was made up of investors in today's equity markets. These investors are used to making decisions on the basis of the long run. Glickman also fails to realize that the two points he attacks are the ones upon which the post Keynesian idea of the study rests upon.