Thoughts On Economics

Friday, July 29, 2022

On The Emergence of Multiple Cost-Minimizing Techniques

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Figure 1: Wage Curves and Rent for an Example of Intensive Rent The analysis of the choice of technique has above always been based on...
1 comment:
Friday, July 22, 2022

An Extensive Rent Example

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Figure 1: Wage Curves and Rent for an Example of Extensive Rent The analysis of the choice of technique in models of extensive rent ca...
1 comment:
Saturday, July 16, 2022

Fixed Capital And The Emergence Of Reswitching

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Figure 1: A Wage Frontier With A Fluke Switch Point A fluke example with fixed capital illustrates the emergence of the reswitching of...
Saturday, July 09, 2022

The Emergence Of The Reverse Substitution Of Labor

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Figure 1: A Wage Frontier With Two Fluke Switch Points This post presents an example with circulating capital alone. Table 1 presents ...
4 comments:
Sunday, July 03, 2022

Decades Of Empirical Evidence

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I did not always think that mainstream economists are mostly socialized to be unlettered knaves, deficient in mathematics and logic. It too...
6 comments:
Saturday, June 25, 2022

My Great-Great-Great-Great-Great-Great-Great-Great-Granduncle Babbitt Murdered a Native-American

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The Babbitt family started in America with Edward Bobet, who died in 1675. We have now come to that time of terror and disaster to the s...
Saturday, June 18, 2022

On Sraffian Methodology

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I do not know if I will keep on, but I thought I might present a series of posts expanding on this one . By the way, I should have said the...
Saturday, June 11, 2022

George Babbitt's Neighbor Is A Yale Economist

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"On the other side of Babbitt lived Howard Littlefield, Ph.D., in a strictly modern house whereof the lower part was dark red tapestr...
Saturday, June 04, 2022

Elsewhere

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Debate on Marx's theory of value in World Review of Political Economy . Carolina Alves on Joan Robinson on Karl Marx in the Jour...
2 comments:
Saturday, May 28, 2022

Selective Bibliography For The TSSI

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is there a book with a focus exclusively on the TSSI more recent than the 2015 one in this list? Armstrong, Phil (2020). Can Heterodox ...
1 comment:
Saturday, May 21, 2022

Textbooks for Post-Sraffian Price Theory

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This post provides a list of textbooks: Syed Ahmad (1991). Capital in Economic Theory: Neo-classical, Cambridge, and Chaos , Edward Elg...
Thursday, May 12, 2022

Value And Distribution

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"It is the whole process of production that must be called 'human labour', and thus causes all products and all values. Marx ...
1 comment:
Saturday, May 07, 2022

Axel Leijonhufvud, 9 June 1933 - 5 May 2022

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I think it should be well-known that the Keynesian economics in Paul Samuelson's textbook, for example, does not capture a lot of the...
1 comment:
Sunday, May 01, 2022

Mark Levin's American Marxism: Worse Than Worthless

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Authortarians in the United States are currently competing to see who can publish the most stupid book. Mark Levin is a strong contender...
2 comments:
Thursday, April 28, 2022

Characteristics of Labor Markets Varying with Pertubations of Relative Markups

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My article with the post title is now available at the Review of Political Economy . The abstract follows: Abstract: This article...
Saturday, April 23, 2022

Elsewhere

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Paul Krugman's Godley-Tobin Lecture Ingrid Harvold Kvangraven on Samir Amin and Beyond Eurocentrism . Rebecca Hasdell's What...
Saturday, April 09, 2022

An Indeterminate Solution In An Example Of Extensive Rent

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Figure 1: Extra Profits with Given Rent On Type 2 Land 1.0 Introduction This post revisits this example of extensive rent. I repeat ...
3 comments:
Thursday, March 31, 2022

Elsewhere

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An applet for Marx's schemes of simple and expanded reproduction. Eli Cook, in The American Prospect says mainstream economists ...
1 comment:
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