Sunday, December 14, 2014

Branko Milanovic — Intelligentsia in power

I have just finished reading a short book by Nikolai Bukharin, “Economic theory of the leisure class.” It was published in 1914, exactly 100 years ago. His idea was a very good one. At the time of the rising, and seemingly victorious, marginal revolution which argued that value is determined by marginal utility and not by the socially-necessary labor, a Marxist, like Bukharin, took upon himself to reply to the Austrian school and John Bates Clark...
Some more history of economics.

Global Inequality
Intelligentsia in power
Branko Milanovic

2 comments:

Matt Franko said...

"Intelligentsia in power"

SCARY!!!!!

googleheim said...

Creative destruction is original to Marxist theory but used in Austrian school and by the tea potty