EconoSpeak

 Krugman has a piece in the New York Times today that offers an explanation for why Republicans oppose every measure—vaccination, masking, limits on indoor gathering—that could reverse the pandemic.  He says it’s because the Democrats support them and that Biden would take credit for reduced caseloads, hospitalizations and deaths.  Since owning the libs is the guiding philosophy of Republican politicians and their minions, such actions have to be fought at all costs.The problem is that...

There is nothing significant in these chapters regarding socially necessary labour time. Chapter 12, the concept of relative surplus value, would be a good place for Marx to tell readers that socially necessary labour time, per capital, entails the production of a relative surplus population. Instead, we get only an anodyne definition of the productiveness of labour:By increase in the productiveness of labour, we mean, generally, an alteration in the labour-process, of such a kind as to...

 Based on various sources, including the recent NY Times podcast with interviews of vaccine resisters/hesitants, here’s my list of common elements.1. Assuming the sole criterion for whether to take the vaccine is its effect on your own health—not taking into account whether you may infect someone else.  Antivax people nearly always justify their choice in terms of their perceived risk of getting Covid and the personal risk posed by the vaccine and not in terms of the vaccine’s potential role...

Chapter six, the buying and selling of labour power, contains neither "socially necessary labour time" nor "labour time socially necessary." Instead it has a few synonyms:Suppose that in this mass of commodities requisite for the average day there are embodied 6 hours of social labour, then there is incorporated daily in labour-power half a day’s average social labour, in other words, half a day’s labour is requisite for the daily production of labour-power. This quantity of labour forms the...

Friedrich Engels in the 1885 preface to volume two of Capital: On page 609 of the first volume (Das Kapital, 2nd ed.) we find the following quotation, “The possessors of surplus-produce or capital,” taken from a pamphlet entitled The Source and Remedy of the National Difficulties. A Letter to Lord John Russell, London, 1821. In this pamphlet of 40 pages, the importance of which should have been noted if only on account of the one expression “surplus-produce or capital,” and which Marx saved...

 In the last few days for the first time in many years northern Israel has been on the receiving end of rockets fired out of southern Lebanon, territory under the control of the Shia Hezbollah group long supported by Iranian interests, although apparently some think that it was Palestinians living in this area who fired the rockets. Even if it was, clearly this would not have happened without approval from Iran.Also in the last few days an oil tanker in the Persian Gulf controlled by the...

 Fox News's biggest star, Tucker Carlson, is broadcasting this week from Budapest where a political festival is happening under the aegis of Hungarian leader, Victor Orban.  As observers have noted, Orban has engaged in a gradual process of turning Hungary from a functioning EU democracy into an authoritarian state that maintains a veneer of democracy. Crucial to this is control over most of the media as well as the judiciary. His actions have put him in a running conflict with the EU's...

Our pamphleteer overlooks two things: The greater the social wealth, the functioning capital, the extent and energy of its growth, and, therefore, also the absolute mass of the proletariat and the productiveness of its labour, the greater is the industrial reserve army. The same causes which develop the expansive power of capital, develop also the labour power at its disposal. This is the absolute general law of capitalist accumulation: As a result of the introduction of machinery, a...

 When technical specialists adopt an everyday word, they often give it a meaning that differs from its everyday use.  This can be misleading for nonspecialists, especially when little effort is made to explain the difference.  A well known example is “significance”, which means one thing when used in statistical work and another when it just denotes whether something is important.Let’s look at another example, vaccine “effectiveness”.  What do people most want to know about the coronavirus...

 1. If both x and n are positive whole numbers, can x + n < x?(show your work)