Thoughts On Economics

I have been pointing out that much teaching in most universities and high schools in economics is propaganda. Mistakes that were exposed m...

I want to contrast the theories of classical political economists and marginalists up to, say, the 1920s. I take David Ricardo as represent...

I want to here consider further evidence that Ricardo's views lead to something like Marx's theory of surplus value. My argument is...

I find this passage based on guidance from Samuel Hollander: "The cause of profit is, that labour produces more than is required for...

1.0 Introduction This post should be mostly uncontroversial. The labor theory of value (LTV) explains prices in certain special cases. 2....

I have been reading some secondary literature on John Stuart Mill. He was explicitly against meritocracy, although that term was not availa...

I have been writing about natural resources that emerge unchanged from the production processes. In contrast, Bidard & Erreygers (200...

1.0 Introduction Do scarce natural resources provide additional difficultes for modern reconstructions of classical and Marxian theories o...

Consider the introduction of new, advanced machinery into a capitalist economy. This will raise productivity and be good for the population...

I take it for granted that marginalism became accepted partly because Marx had used the best in classical political economy in his account ...

1.0 Introduction I resolutely am not commenting on unhappy current events. Smith and Ricardo thought a (simple) LTV was not applicable t...

The following are the first three paragraphs of the introduction to the Wealth of Nations : "The annual labor of every nation is th...

1.0 Introduction This post illustrates a derivation of prices of production, based on certain properties of duality theory as applied to l...

A revolution occurred in price theory about two-thirds of a century ago. Several scholars independently developed components of this revolu...

1.0 Introduction I have been reading fools in other parts of the Internet. Hence this post. 2.0 Assertions Marx says the following (I a...

1.0 Introduction This post argues that there is more than one labor theory of value. 2.0 The Labor Theory of Property John Locke argued...

Lately, when trying to write up my results I use terminology from classical political economy. The table below maps some terms from classic...

William Petty began classical political economy in the 17th century. Classical economics was developed through the work of the physiocrats ...

Here is Jean Jacques Rousseau: "...whether those who command are necessarily better than those who obey, and if strength of body or ...