tag:blogger.com,1999:blog-2761684730989137546.post5301871070233921412..comments2024-03-29T07:30:30.121-04:00Comments on Mike Norman Economics: Nick Johnson — Production and realization of surplus value – Marxists, Keynesians and othersmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2761684730989137546.post-19825549320172498732017-07-19T12:33:34.019-04:002017-07-19T12:33:34.019-04:00It would be nice if Marxists stopped thinking in s...It would be nice if Marxists stopped thinking in static terms and terms of Gold coins. <br /><br />Accumulation of capital, aka keeping score, is what fiat currency is there for. <br /><br />Let them count their numbers on a spreadsheet. The rest of us are interested in distribution of actual resources, not pretend ones. NeilWhttps://www.blogger.com/profile/11565959939525324309noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-27626775700095732482017-07-18T23:11:59.019-04:002017-07-18T23:11:59.019-04:00It would be nice if economics would finally ditch ...<i>It would be nice if economics would finally ditch inflation... nobody else changes their units.,,. "Well.... that is in 2005 amperes...". Whaaaaaaatttttt???</i><br /><br />Right. They act like these are actual measurements.<br /><br />Moreover, using inflation rate, which is an economic indicator as a policy target violates <a href="https://en.wikipedia.org/wiki/Goodhart%27s_law" rel="nofollow">Goodhart's Law</a>.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-36115549096357604992017-07-18T22:57:35.929-04:002017-07-18T22:57:35.929-04:00It would be nice if economics would finally ditch ...It would be nice if economics would finally ditch inflation... nobody else changes their units.,,. "Well.... that is in 2005 amperes...". Whaaaaaaatttttt???Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-12674274185599889012017-07-18T19:54:56.976-04:002017-07-18T19:54:56.976-04:00Nick said policies which expand demand will have ...Nick said <i> policies which expand demand will have little effect on growth and, as seen in the 1970s, can give rise to a combination of inflation, slowing growth and rising unemployment, known as stagflation.</i><br /><br />Except 70's inflation was caused by oil, and 70's unemployment was caused by austerity and monetary policy. It would be nice if economists understood inflation.Dan Lynchhttps://www.blogger.com/profile/11189866002273597534noreply@blogger.com