Tag Archives: Vocabulary

Marx writes about rent extensively in Part II of Theories of Surplus Value and in volume 3 of Capital. I read Theories of Surplus Value decades ago. I have been trying to read the chapters of volume 3 on rent, that is, chapters 37 to 47. In general, these chapters do not use Hegelian terminology, but are just a matter of mathematical economics. Marx conflates analyses I would keep separate. Maybe this is a matter of a dynamic analysis set in historical time. I suppose I do not have...

[embedded content]Ryan Chapman On (The History Of) Socialism I found the above video fairly reasonable. Chapman tends to depict history as a debate about ideas, with little about material developments. In other videos, he seems unreliable on the new left, post modernism, and identity politics. My Marx includes a mathematical economist. This post provides some lists. As usual, I expect my lists are quite idiosyncratic. Some items, with more investigation, I might dislike. Books: Gary...

The logical possibility of the reswitching of techniques is a devastating challenge to marginalism. But the Cambridge capital controversy does not depend on the presence of reswitching. I suppose I should have links for the possibilities listed below. None of these possibilities are fluke cases. One might make a distinction between the reswitching of techniques and the recurrence of techniques. In both cases a technique is cost-minimizing at two non-overlapping ranges of the wage. If...

Lately, when trying to write up my results I use terminology from classical political economy. The table below maps some terms from classical political economy to terminology for marginalists. Terminology ClassicalMarginalistUse valueUtilitySupplyQuantity suppliedDemandQuantity demanded(Normal) profitsInterestExtra profits(Pure) economic profitsSupernormal profitsMarket pricesShort run pricesNatural pricesLong run pricesPrices of production I probably am leaving some important mapping out....

Terms that include the word 'pattern' are my own creation, as inspired by my research program. The remainder are, as far as I am concerned, standard terminology, some of which you would be introduced to if you were taught price theory properly. (Most of what is in mainstream microeconomic textbooks is, at best, wrong.) The definitions are my own, although obvious inspired by my reading. Absolute rent: A price paid for a year's services for land under cultivation due to barriers to entry to...

Special Cases in the Analysis of Rent TypeLandAgricultural ProcessesIndustrial ProcessesExtensive rentMultiple types of land, each of a given qualityFor a given type of land, one process producing corn is availableFor a given commodity other than corn, one process for producing it is availableIntensive rent properOne type of homogeneous landFor the given type of land, multiple processes are available for producing cornFor a given commodity other than corn, one process for producing it is...

This is a list of some of what I think one should know if one wants to talk to investors interested in theory. This post is not about making money and is probably not up-to-date. My references are fairly popular, and mostly old. I include one recent popular book as an example. Most of the references I do not recall very well, and I have not read Ben Graham. But many seem to know that Warren Buffet recommends this book. This post is non-critical. Keen and Quiggin in Debunking Economics and...