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Classical Economics: Ricardo on machinery and the handloom weavers
Today, we are going to complete our discussion of classical economics by examining the final piece of the puzzle as to one of the motivations for the abandonment of classical economics: Ricardo’s...
View ArticleUpdated: Classical Economics: Economic Arguments and Ideology
The first part of this discussion is in many senses homage to Naomi Klein and her book The Shock Doctrine. I spent the weekend reading the book and this impelled me to formulate some of my ideas on the...
View ArticleClassical Economics: Samuel Read an exercise in apologetics
Today, we are going to complete the discussion on the attack of the labour source of value and the justification for the capitalists to obtain profits and control over the product. Read’s Political...
View ArticleClassical Economics: The Wages Fund and Modern Discussions of Equality
I decided to open up today’s diary with a modern discussion on the question of the notion of equality that was held at the Fabian Society (for some history on the society, see...
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Thinking fast and slow...about trade
In previousdiaries, I described the concepts of “loss aversion”, and how this can affect the process of change. Basically, any change in the macroeconomic sense involves “winners” (those who gain...
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AntiCapitalist MeetUp: Is Nature the ultimate 'central marketing authority'
If there are unequal exchanges in a system of values and prices, there are differential problems of rent and commodities in carbon trading systems. The dominance of fossil-fuel lobbyists at COP26...
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