Post-Keynesian

I have come across two academic reviews of my book which can be found here and here. There is also a nice popular review in the Irish Times that can be found here. Advertisements

The literature on neoliberalism is large. Here are some scholarly books on this subject or on related matters: The power of market fundamentalism: Karl Polanyi's critique, by Fred Block & Margaret R. Somers (2016). Undoing the demos: Neoliberalism's stealth revolution, by Wendy Brown (2015). The great persuasion: Reinventing free markets since the Depression, by Angus Burgin (2015). The strange non-death of neoliberalism, by Colin Crouch (2013). The birth of biopolitics: lectures at...

Figure 1: A Production Network I here comment on Baqaee and Farhi (2018). I am still trying to absorb it. I suppose that it is nice that an economist at Harvard is revisiting the Cambridge Capital Controversy (CCC). (Where is Michael Mandler these days?) My major criticism is they do not do what their title claims. That is, their supposed microeconomic foundations are still up in the air. In many CCC examples, technology is specified in terms of fixed-coefficient production processes....

I tend to be doubtful, albeit sometimes amused, by comments drawing on Hegel. But I thought I would adopt some of that sort of language for a post. Capitalism constantly revolutionizes production, leading to a fantastic increase in productivity. An ever more diverse set of commodities is produced, including for consumption. Machines for making, controlling, and communicating with other machines, are constantly being introduced, reducing the labor time needed to produce any commodity....

This is merely a list and, as usual, off the top of my head. Paul A. Samuelson (1966). A summing up. Quarterly Journal of Economics 80: 568-583. Mark Blaug (1975). The Cambridge revolution: Success of failure? A critical analysis of Cambridge theories of value and distribution. Institute of Economic Affairs. Joseph E. Stiglitz (1974). The Cambridge-Cambridge controversy on the theory of capital: A view from New Haven. Christopher J. Bliss (1975). Capital Theory and the Distribution of...

Here is a list of female economists I have learned from or would like to know more about: Jane Marcet Harriet Martineau Charlotte Perkins Gilman Rosa Luxemburg Edith Penrose Joan Robinson Krishna Bharadwaj Anne Mayhew Phyliss Deane Victoria Chick Ingrid Rima Nancy Folbre Obviously, this list reflects my interests and biases. This list is off the top of my head.

Don Harris is a Stanford economist. Apparently, this post is on current events. His daughter, Kamala Harris is the junior senator from California and has announced that she is running for President of the United States. I gather Don and his wife divorced when Kamala was quite young, and that his ex-wife raised her. I do not know much about Harris' personal history. I did not even know that he was Jamaican. Did he give Michael Manley any advice? (This is a great movie.) It is his more...

Some articles: Josh Barro, in New York Magazine. Noah Smith, in Bloomberg. Linette Lopez, in Business Insider. Michael Strain, also in Bloomberg. I do not assert that all points in these articles are well-taken. I think of MMT as descriptive. It combines endogenous money, functional finance, and chartalism. Much of its empirical evidence consists of qualitative descriptions of how financial institutions and central banks operate. One can imagine a policy regime where unemployment and...

1.0 Introduction This post is fairly stream of consciousness. It is a bit more about how many find me odd. I have previously mentioned, as an aside, Kozo Uno and his reading of Marx's Capital as a theory of pure capitalism. I like this idea, although it needs to be noted Marx had a lot to say in Volume I about concrete practices in his day and the historical development of capitalism. The theory and history are entwined. But Marx certainly presents the capitalist, not as a person, but as...

1.0 Introduction Consider typical Linear Programs (LPs) for formulating the theory of firm in classical and neoclassical economics. I claim that the classical theory can be formulated as M-C...P...C-M, and that the neoclassical theory of production is something like C...P...C-M. The notation is from Marx. For Marx, simple commodity circulation is represented as C-M-C. A commodity is sold for money, and then that money is used to buy another commodity. An owner of a use value trades it for...