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Did Marginalism Become Accepted As A Reaction to Marxism?

I take it for granted that marginalism became accepted partly because Marx had used the best in classical political economy in his account of why socialism would and should transcend capitalism. This post presents some who have argued for or asserted the same. I start by summarizing an argument from Antonia Campus. Campus argues that the marginalists in the 1870s did not have an accepted theory of production, cost, and price. Only in the 1890s did the marginal productivity theory of...

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The Case of the Missing Report – Part 1 — Bill Mitchell

 This blog post is a long time in gestation and I could have written in 2009 which is the relevant year of the events that I will document in this two-part series. My conversations with government officials during my working trip to the Philippines last week highlighted several things, including their sheer terror of IMF intervention and the ratings agency. I will write separately about that in a later post. But the IMF watches these types of nations like a hawk and is ready to pounce to...

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The Impact of 25% Tariffs on Canadian GDP—The Bank of Canada vs Deepseek — Stephanie Kelton

Stephanie asks Deepseek.The LensThe Impact of 25% Tariffs on Canadian GDP—The Bank of Canada vs DeepseekStephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders

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What is the University of Michigan Survey of Consumer Sentiment Telling Us? — Stephanie Kelton

 Expectations.The LensWhat is the University of Michigan Survey of Consumer Sentiment Telling Us?Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders

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Climate nutters useful idiots for insurance scammers

Can’t even make it up… moron intellectual degenerate Art degree climate nutters (who couldn’t tell you the atomic number of hydrogen) running interference for the insurance scammers…California's insurance system is broken for a variety of reasons, but climate change is not one of them. There is no greater consumer scam underway than insurance industry trade groups blaming climate change for skyrocketing rates. The media is complicit, on the take. https://t.co/VN9RU7F7Oz— Ryan Maue...

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Monday Message Board

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here. Share this:Like Loading...

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