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Showing posts with label marginalism. Show all posts
Showing posts with label marginalism. Show all posts
Friday, February 21, 2020

REVIEW ESSAY–The Reformation in Economics: A Deconstruction and Reconstruction of Economic Theory by Philip Pilkington Marc Morgan

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Book review. American Affairs REVIEW ESSAY–The Reformation in Economics: A Deconstruction and Reconstruction of Economic Theory by Philip P...
Sunday, April 7, 2019

LarsP. Syll — Mainstream theories of income distribution

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Increasing asymmetry of income and wealth, which now goes by the name "inequality" as the buzzword, arises either from the functi...
2 comments:
Friday, September 21, 2018

Peter Taaff — Parasitic capitalism exposed [Book Review]

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Mariana Mazzucato’s new book is a detailed exposé of the parasitic character of modern capitalism, drawing on Karl Marx’s theory of the sour...
2 comments:
Wednesday, April 18, 2018

Nature — How to retool our concept of value – Mariana Mazzucato

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Must-read in full. It's short and to the point. The meaning of "value" is one of the most pertinent questions in economics ...
6 comments:
Sunday, August 20, 2017

Philip Pilkington — Utilitarian Economics and the Corruption of Conservatism

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Weekend reading on economic and political economy. Phil always has interesting things to say as a philosophical economist or economic philos...
1 comment:
Thursday, December 29, 2016

Lars P. Syll — New study shows marginal productivity theory has a ‘negligible’ link to reality

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Those damn empirics keep getting in the way of theory.  Mainstream economics, with its technologically determined marginal productivity ...
1 comment:
Sunday, October 9, 2016

A Critique of Crisis Theory — Three Books on Marxist Political Economy

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Important if you are into economic theory or the history of economics. It is chiefly an exploration comparing and contrasting Anwar Shaikh...
10 comments:
Sunday, March 29, 2015

Noah Smith — A misguided attack on Land Value Taxes

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Noah doubles down on the LTV after his Bloomberg View post generated some critical response. Henry George rules. Take that John Bates ...
4 comments:
Friday, November 21, 2014

Yves Smith — Masaccio: Piketty Shreds Marginal Productivity as Neoclassical Justification for Supersized Pay

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Yves here. One of the main agendas of neoclassical economics is to give Panglossian defenses of the current order a veneer of intellectual ...
Friday, November 14, 2014

Ismael Hossein-Zadeh — Class Interests as Economic Theory

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Succinct explanation of the transition from classical to neoclassical economics and marginalism. The formal theoretical shift from classic...
3 comments:
Tuesday, November 11, 2014

Matt Bruenig — The Rise of New Capitals

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In his 1776 book Wealth of Nations, Adam Smith provided the classical definition of capital : When the stock which a man possesses is no...
Saturday, May 31, 2014

Brad DeLong — Unjust Deserts

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We would have a much clearer discussion of issues of inequality and distribution if we would simply stick to considerations of human wellbe...
Friday, May 2, 2014

Jared Bernstein — Inequality and Pay: “Rents” vs. Merit

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In the age of Piketty, it is increasingly recognized that historically high levels of economic inequality are a serious and growing problem...
1 comment:
Tuesday, April 29, 2014

Philip Pilkington — The Sraffian Versus the Marginalist Worldview: A Strong Case For Academic Pluralism

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An economic model is a sort of parable. Intuitively, every economist should know this. You lay out assumptions — that is, a framework for a...
1 comment:
Monday, April 28, 2014

Philip Pilkington — The Capital Controversies Rise Once More

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Phil explains how the issues raised in the Cambridge capital controversy are relevant today in light of the debate around inequality. The ...
1 comment:
Thursday, April 3, 2014

Philip Pilkington — Marginalist Microeconomics: The Path to Totalitarian Tyranny

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Fortunately the totalitarian tendencies of marginalist microeconomics are kept in check in Western democracies to a very large extent. But o...
2 comments:
Tuesday, November 5, 2013

Lord Keynes — Keynes and Marginalism

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The subsequent history of the emergence of Post Keynesianism as a school is of course complicated but, fundamentally, involves rejecting th...
Sunday, October 6, 2013

Lord Keynes — Lee’s Post Keynesian Price Theory: Chapter 6

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Short account of why marginalism is wrong. Business does not operate in terms of marginal price since it is inefficient, contrary to w...
Friday, June 21, 2013

David Ruccio — Rent-seeking and the 1 percent

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I’m intrigued by the increasing references to rent-seeking as a way of making sense of the groteque unequal distribution of income in the...
3 comments:
Saturday, June 1, 2013

Matias Vernengo — Garegnani on Sraffa, Ricardo and Marx

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Note that Sraffa suggested that his solution, based on the standard commodity, could be interpreted as akin to Smith's labor commanded ...