Post-Keynesian

An appreciation of Rob A. Bryer, a Marxist scholar of accounting. I stumbled upon a You Tube channel and web site for the International Marxist Tendency. I do not know what I think about variants of Trotskyism. Alessandro Roncaglia contrasts theories of crises in which tendencies exist in competitive markets towards equilibrium and in which such tendencies need not exist. Some have YouTube channels trying to explain the strange ideas that mathematicians have come up with: An Infinite...

It seems to me that mainstream economists are socialized into ignorance and anti-scholarly norm. Plenty of economists exist that so many economists dismiss as 'fringe', and yet these dismissed economists excel on any scholarly criteria. It is not just that mainstream economists do not know of vast bodies of scholarship, produced by academics around the world. They also do not know that what they believe has long ago been shown to be without foundation. I have gone on like this before. I...

Figure 1: Wage Curves and Rent for an Example of Intensive Rent The first man who, having enclosed a piece of ground, bethought himself of saying, 'This is mine', and found people simple enough to believe him, was the real founder of civil society. From how many crimes, wars and murders, from how many horrors and misfortunes, might not anyone have saved mankind by pulling up the stakes, filling in the ditch, and crying to his fellows, 'Beware of listening to this imposter; you are undone if...

We compare the conditions of two isolated market systems A and B. Both are equal in size and population figures, the state of technological knowledge, and in natural resources. They differ from one another only in the supply of capital goods, this supply being larger in A than in B. This enjoins that in A many processes of production are employed with which the output is greater per unit of input than with those employed in B. In B one cannot consider the adoption of these processes on...

Figure 1: Wage Curves and Rent for an Example of Intensive Rent1.0 Introduction This post is one in a series exploring variations of an example from Antonio D'Agata (1983). This post demonstrates that at least one of my fluke cases can appear in a model of intensive rent by varying a parameter specifying relative markups among sectors. This post is only a start of exploring the parameter space of relative markups in a specific numeric example of intensive rent. Suppose the rate of...

Optimism of the will leads me to hope that, with the misery we endure and cause, someday some people, including leaders of political movements and parties, will gain some wisdom. As I understand it, Frantz Fanon generalized principally from Algeria. The settler is not simply the man who must be killed. Many members of the mass of colonialists reveal themselves to be much, much nearer to the national struggle than certain sons of the nation. The barriers of blood and race-prejudice are...

[embedded content]The First Of A Robert Paul Wolff Series Of Lectures On MarxWolff raises the question of why Marx writes like he does in the first volume of Capital. The rest of Wolff's lectures: Lecture 2 Lecture 3 Lecture 4 Lecture 5 Lecture 6 Lecture 7 Seth Ackerman, in Jacobin, on Marxist crisis theory. Nathan Robinson pans Thomas Sowell. Unlearning Economics disagrees with Sabine Hossenfelder. (Her original video.)

Marx distinguishes, at least, between market prices, prices of production, and labor values. For the first volume of Capital, Marx assumes market prices bob around or tend to labor values, not prices of production. I think Marx nowhere says he is assuming the organic composition of capital does not vary among industries. He adopts the labor theory of value in when considering capitalist production as a whole so as to address the question of how owners of capital are able to regularly obtain...

[embedded content]Jeremy Rudd addresses the Cambridge Society for Economic Pluralism Jeremy Rudd has written: Mainstream economics is replete with ideas that 'everyone knows' to be true, but that are actually arrant nonsense. For example, 'everyone knows' that: aggregate production functions (and aggregate measures of the capital stock) provide a good way to characterize the economy's supply side; over a sufficiently long span - specifically, one that allows necessary price...

Figure 1: Variation of Technique with Relative Markups1.0 Introduction This is a rewrite of a previous post with somewhat 'nicer' values for coefficients of production. I also expand on it with some observations on absolute rent. As far as I know, these posts are the first explicit presentation in the post-Sraffian tradition of a model of the prices of production with extensive rent and markup pricing. These posts explore the conflict over distribution among workers, capitalists, and...