Basics of Marxist Economics, by Roger McCain of Drexel University
... determine the rate at which they could be exchanged for one another, though he mentioned some exceptions. If the supply of goods could not be increased by labor, then their value would be determined by their scarcity, and not by the labor embodied in them. Old master paintings would be a case in ...
... determine the rate at which they could be exchanged for one another, though he mentioned some exceptions. If the supply of goods could not be increased by labor, then their value would be determined by their scarcity, and not by the labor embodied in them. Old master paintings would be a case in ...
Macroeconomics of Keynesian and Marxian inspirations: Toward a
... of neoliberalism in the 1980s, despite the overall repression of economists critical of the new social order, the Keynesian perspective is still the object of much interest among the minority of economists politically leaning to the Left. The relationship between Keynesian and Marxian economics has ...
... of neoliberalism in the 1980s, despite the overall repression of economists critical of the new social order, the Keynesian perspective is still the object of much interest among the minority of economists politically leaning to the Left. The relationship between Keynesian and Marxian economics has ...
Seventh Edition
... The PPF and Opportunity Cost • Recall: The opportunity cost of an item is what must be given up to obtain that item. • Moving along a PPF involves shifting resources (e.g., labor) from the production of one good to the other. • Society faces a tradeoff: Getting more of one good requires sacrificing ...
... The PPF and Opportunity Cost • Recall: The opportunity cost of an item is what must be given up to obtain that item. • Moving along a PPF involves shifting resources (e.g., labor) from the production of one good to the other. • Society faces a tradeoff: Getting more of one good requires sacrificing ...
ENLARGING THE VARIETIES OF CAPITALISM The
... conditions have to be met:34 (1) the existence of an alternative overall economic coordination mechanism closely related to (2) a relatively stable set of institutions based on marked institutional complementarities, that leads to (3) a set of specific comparative advantages (in relationship to CME ...
... conditions have to be met:34 (1) the existence of an alternative overall economic coordination mechanism closely related to (2) a relatively stable set of institutions based on marked institutional complementarities, that leads to (3) a set of specific comparative advantages (in relationship to CME ...
Social Theory and the Transformation of Capitalism in the Twentieth
... been occurring in industrial societies all over the world. These transformations are awkwardly explained by the unitary traditions, not only because different companies, regions and national governments are responding to similar pressures in very different institutional, political and strategic ways ...
... been occurring in industrial societies all over the world. These transformations are awkwardly explained by the unitary traditions, not only because different companies, regions and national governments are responding to similar pressures in very different institutional, political and strategic ways ...
The problem with economics: naturalism, critique and
... The cultures of scientific thinking and scientific practice, the attachment to ideals of natural inquiry and intellectual critique in modern thought, and the connections of all this to the development of the modern world itself are at the center of a number of contributions to the history of science ...
... The cultures of scientific thinking and scientific practice, the attachment to ideals of natural inquiry and intellectual critique in modern thought, and the connections of all this to the development of the modern world itself are at the center of a number of contributions to the history of science ...
What Is Economics? - Hobbs Municipal Schools
... determines an individual’s wealth. The more land and capital you have, the richer you will be. The greater your entrepreneurial skills, the more income you might earn. In other words, the distribution of factors of production affects a nation’s income distribution—what percentage of Americans are ri ...
... determines an individual’s wealth. The more land and capital you have, the richer you will be. The greater your entrepreneurial skills, the more income you might earn. In other words, the distribution of factors of production affects a nation’s income distribution—what percentage of Americans are ri ...
The PROBLEM With Economics: Naturalism, Critique And
... The cultures of scientific thinking and scientific practice, the attachment to ideals of natural inquiry and intellectual critique in modern thought, and the connections of all this to the development of the modern world itself are at the center of a number of contributions to the history of science ...
... The cultures of scientific thinking and scientific practice, the attachment to ideals of natural inquiry and intellectual critique in modern thought, and the connections of all this to the development of the modern world itself are at the center of a number of contributions to the history of science ...
A Reflexive Sociological Case for Heterodox Economics
... contributed to the 2008 Great Recession were bubbles in the housing markets in several countries, large government budget deficits and accumulated public debt in many countries, growing trade imbalances between the United States and China, very low interest rates in several economies, and the comple ...
... contributed to the 2008 Great Recession were bubbles in the housing markets in several countries, large government budget deficits and accumulated public debt in many countries, growing trade imbalances between the United States and China, very low interest rates in several economies, and the comple ...
ST. JOHN`S UNIVERSITY NEW YORK Tobin College of Business
... economic growth in historical perspective, absolute poverty versus relative poverty, creative destruction versus macro-economic stability, and Sowell’s Rule on the difference between politics and economics. “Fear the Boom and Bust” youtube ...
... economic growth in historical perspective, absolute poverty versus relative poverty, creative destruction versus macro-economic stability, and Sowell’s Rule on the difference between politics and economics. “Fear the Boom and Bust” youtube ...
Economic Transition as a Crisis of Vision: Comparing Classical and
... The approach to general equilibrium developed by Smith and Marx is one of adjustment toward an equal rate of profit within a system-wide markup pricing model. That is, the prices of production (similar to what Smith called the “natural” price) will be determined in the long-run by a markup of profit ...
... The approach to general equilibrium developed by Smith and Marx is one of adjustment toward an equal rate of profit within a system-wide markup pricing model. That is, the prices of production (similar to what Smith called the “natural” price) will be determined in the long-run by a markup of profit ...
The Future of the Capitalist State
... exchange-value added by the socially necessary labour time expended during the production process. Any exchange-value so created is only realized, however, by selling these commodities at a profit for money as revenue (the stage of commercial capital). Such sales are not guaranteed. The circuit is c ...
... exchange-value added by the socially necessary labour time expended during the production process. Any exchange-value so created is only realized, however, by selling these commodities at a profit for money as revenue (the stage of commercial capital). Such sales are not guaranteed. The circuit is c ...
Volume XIII - UMKC College of Arts and Sciences
... perhaps, but one that runs through the whole gamut of human activities.” (pp. 282) In other words, technology cannot be thought of as separate from society. In fact, it is better to say that technology is a fundamental part of human life; as individuals interact with their environment and with each ...
... perhaps, but one that runs through the whole gamut of human activities.” (pp. 282) In other words, technology cannot be thought of as separate from society. In fact, it is better to say that technology is a fundamental part of human life; as individuals interact with their environment and with each ...
Neoliberalism, Globalization, Financialization
... post-1980 capitalism – is it globalization, financialization, or neoliberalism? Or is it best understood as simply capitalism? These different understandings of contemporary capitalism have implications for our analysis of the financial and economic crisis that emerged from it in 2008 and for the me ...
... post-1980 capitalism – is it globalization, financialization, or neoliberalism? Or is it best understood as simply capitalism? These different understandings of contemporary capitalism have implications for our analysis of the financial and economic crisis that emerged from it in 2008 and for the me ...
Implications-of-diff..
... Debreu, 1954; Debreu, 1959). The new version of the classical paradigm made the contrast with the Keynesian paradigm much more radical than before. The economy is assumed to be always in a state of full unemployment equilibrium. This does not exclude small fluctuations triggered by exogenous factors ...
... Debreu, 1954; Debreu, 1959). The new version of the classical paradigm made the contrast with the Keynesian paradigm much more radical than before. The economy is assumed to be always in a state of full unemployment equilibrium. This does not exclude small fluctuations triggered by exogenous factors ...
Neoliberal reason and its forms
... school proposed to analyze the entire social field (ranging from household to addiction, law, crime, etc.) and consequently calibrate relevant social policy by means of the categories of neoclassical economic theory. In addition, Foucault locates Ludwig von Mises and Friedrich von Hayek as the “inte ...
... school proposed to analyze the entire social field (ranging from household to addiction, law, crime, etc.) and consequently calibrate relevant social policy by means of the categories of neoclassical economic theory. In addition, Foucault locates Ludwig von Mises and Friedrich von Hayek as the “inte ...
Preface for the Student
... of information and unsolvable incentive problems undermine the ability of government to plan, making the market the best method for coordinating economic activity. Austrian economists oppose state intrusion into private property and private activities. They are not all economists from Austria; rathe ...
... of information and unsolvable incentive problems undermine the ability of government to plan, making the market the best method for coordinating economic activity. Austrian economists oppose state intrusion into private property and private activities. They are not all economists from Austria; rathe ...
01_Section I_CH01
... For example, within many modern economies the sale of groceries is a purely market solution with private firms deciding what they will offer to consumers within their own supermarkets. The provision of public health care is an example of the government deciding what healthcare treatments will be off ...
... For example, within many modern economies the sale of groceries is a purely market solution with private firms deciding what they will offer to consumers within their own supermarkets. The provision of public health care is an example of the government deciding what healthcare treatments will be off ...
Circulation Economics – An Ecological Image of Man Based upon
... that the economic process “is dependent on the activity of human individuals” (Georgescu-Roegen 1966, p. 97). “Without the concepts of purposive activity and enjoyment of life we cannot be in the economic world” (Georgescu-Roegen 1966, p. 98). Since the mechanism of mainstream economics leads to uns ...
... that the economic process “is dependent on the activity of human individuals” (Georgescu-Roegen 1966, p. 97). “Without the concepts of purposive activity and enjoyment of life we cannot be in the economic world” (Georgescu-Roegen 1966, p. 98). Since the mechanism of mainstream economics leads to uns ...
Challenging Dominant Market Theories in Five Ways
... classes would prefer to have their needs met by products and food based on “usevalue,” but the capitalist system would not provide prices for goods and food at this level. Instead they relied on “exchange values” that are determined by the demand and supply.16 As such, the system was unjust and embo ...
... classes would prefer to have their needs met by products and food based on “usevalue,” but the capitalist system would not provide prices for goods and food at this level. Instead they relied on “exchange values” that are determined by the demand and supply.16 As such, the system was unjust and embo ...
Competition and Welfare in Post Keynesian Economics
... main forms of the market in studying the dynamic and complex processes of market competition. These are competitive and oligopolistic markets (Kenyon: 1979, p. 37; Steindl: 1952, p. viii). Competitive markets are not treated monolithically, though. Alfred Eichner further distinguishes three differen ...
... main forms of the market in studying the dynamic and complex processes of market competition. These are competitive and oligopolistic markets (Kenyon: 1979, p. 37; Steindl: 1952, p. viii). Competitive markets are not treated monolithically, though. Alfred Eichner further distinguishes three differen ...
Chapter 6 - The University of Utah
... On the other hand, the liberal intellectuals have lost most of their political influence that they had before 1989. Their exiling party abroad has bankrupted and they do not have any organized political force in China. Without any significant social base, the very existence (or extinguishment) of t ...
... On the other hand, the liberal intellectuals have lost most of their political influence that they had before 1989. Their exiling party abroad has bankrupted and they do not have any organized political force in China. Without any significant social base, the very existence (or extinguishment) of t ...
Capitalism and Degrowth— An Impossibility Theorem
... A society based on economic contraction cannot exist under capitalism. But capitalism is a deceptively simple word for a long, complex history. Getting rid of the capitalists and banning wage labour, currency and private ownership of the means of production would plunge society into chaos. It would ...
... A society based on economic contraction cannot exist under capitalism. But capitalism is a deceptively simple word for a long, complex history. Getting rid of the capitalists and banning wage labour, currency and private ownership of the means of production would plunge society into chaos. It would ...
economists occupational outlook
... forecasts. Preparing reports, including tables and charts, on research results is an important part of an economist’s job. Presenting economic and statistical concepts in a clear and meaningful way is particularly important for economists whose research is directed toward making policies for an or ...
... forecasts. Preparing reports, including tables and charts, on research results is an important part of an economist’s job. Presenting economic and statistical concepts in a clear and meaningful way is particularly important for economists whose research is directed toward making policies for an or ...
1 SWEEZY AND THE MONTHLY REVIEW ON CAPITALISM AND
... stabilising the economy at low levels of output and employment, but was unable to stem inflation. Non-financial firms were now much more fully engaged with the financial markets. But this engagement consisted of widespread financial speculation, rather than finance for fixed capital investment. The ...
... stabilising the economy at low levels of output and employment, but was unable to stem inflation. Non-financial firms were now much more fully engaged with the financial markets. But this engagement consisted of widespread financial speculation, rather than finance for fixed capital investment. The ...