Post-Keynesian

Debate on Marx's theory of value in World Review of Political Economy. Carolina Alves on Joan Robinson on Karl Marx in the Journal of Economic Perspectives. John E. King on Joan Robinson in Jacobin. Jan Toporowski on Michal Kalecki in Jacobin. Maybe to read: Steve Paxton's Unlearning Marx: Why the Soviet Failure was a Triumph for Marx .

is there a book with a focus exclusively on the TSSI more recent than the 2015 one in this list? Armstrong, Phil (2020). Can Heterodox Economics Make a Difference? Conversations with Key Thinkers Cheltenham: Edward Elgar. Potts, Nick and Andrew Kliman (eds.) (2015). Is Marx's Theory of Profit Right? The Simultaneous-Temporalist Debate. Lanham: Lexington Books. Kliman, Andrew (2007). Reclaiming Marx's "Capital": A Refutation of the Myth of Inconsistency. Lanham: Lexington Books....

This post provides a list of textbooks: Syed Ahmad (1991). Capital in Economic Theory: Neo-classical, Cambridge, and Chaos, Edward Elgar. Christian Bidard (2004). Prices, Reproduction, Scarcity, Cambridge University Press. Duncan K. Foley, Thomas R. Michl, and Daniele Tavani.(2019). Growth and Distribution (2nd edition), Harvard University Press. Richard M. Goodwin (1970). Elementary Economics from the Higher Standpoint, Cambridge University Press. Steve Keen (2011). Debunking...

"It is the whole process of production that must be called 'human labour', and thus causes all products and all values. Marx and Ricardo used 'labour' in two different senses: the above and that of one of the factors of production ('hours of labour' or 'quantity of labour' has a meaning only in the latter sense). It is by confusing the two senses that they got mixed up and said that value is proportional to quantity of labour (in second sense) whereas they ought to have said that it is due...

I think it should be well-known that the Keynesian economics in Paul Samuelson's textbook, for example, does not capture a lot of the theory in Keynes General Theory. Axel Leijonhufvud, along with Robert Clower, raised this point in the 1960s from a standpoint outside of the emerging Post Keynesianism of Sidney Weintraub, Paul Davidson and Keynes' immediate colleagues at Cambridge. I do not recall Leijonhufvud's book well. As I recall, much discussion occurred over the previous few...

Authortarians in the United States are currently competing to see who can publish the most stupid book. Mark Levin is a strong contender. Much more drivel exists in the book under review in this post than described here. Levin goes on about selected philosophers in odd ways. I haven't seen others point out his curious grouping of Rousseau, Hegel, and Marx. They supposedly "argue for the individual's subjugation into a general will, or greater good, or bigger cause built on radical...

My article with the post title is now available at the Review of Political Economy. The abstract follows: Abstract: This article examines a model of long-period positions with markup pricing. The variation in certain characteristics of the wage frontier with perturbations of relative markups is illustrated. This analysis provides a demonstration of the emergence of the reswitching of techniques and of capital reversing, for example, in non-competitive markets.

[embedded content]Paul Krugman's Godley-Tobin LectureIngrid Harvold Kvangraven on Samir Amin and Beyond Eurocentrism. Rebecca Hasdell's What We Know About Universal Basic Income: A Cross-Synthesis of Reviews. Jacobo Ferrer-Hernández and Luis Daniel Torres-González have the latest working paper from the Centro Sraffa.

Figure 1: Extra Profits with Given Rent On Type 2 Land1.0 Introduction This post revisits this example of extensive rent. I repeat quite a lot from that post. Prices of production are defined, in models of circulating capital alone, from a given technology, requirements for use, and either the wage or the rate of profits. I usually take requirements for use as given by net output and assume constant returns to scale. Since I am concerned with a choice of technique, I am not disagreeing...

An applet for Marx's schemes of simple and expanded reproduction. Eli Cook, in The American Prospect says mainstream economists need to talk about profits. Simon Torracinta, in the Boston Review, decries bad (micro)economics. I should have mentioned Abraham Robinson and non-standard analysis in a previous post. Paintings by the economist Willaim Baumol. A painting by the economist Richard Goodwin. Apparently, he had a book.