Jim Devine wrote:
The rapid obsolescence of hardware software (faster "moral"
depreciation) means that the turnover time of capital is shorter. This in
turn means that the same volume of profits implies a higher rate of profit.
Of course, Jim, the higher depreciation is a deduction from
Ian posted the WSJ article about the IMF's lousy advice.
Stiglitz also said that the IMF gives the US lousy advice and that the Council
of Economic Advisors laughed at their recommendations. Other countries do not
have that luxury.
right. What's amazing is that the IMF seems to apply the same
I apologize for giving such a flip answer to Doug's
question. Showed my own frustration. But, I would
like to follow up a bit more.
Peter is probably right that the major focus on
AS/AD does involve teaching econ and especially at
the introductory level. For better or worse it has
Is it possible to teach a Marxist theory of value today in an
undergraduate course, as a matter of academic politics? One
purpose of my new book, From Capitalism to Equality, is to offer
a serious introduction to the theory and to show that it explains
capitalist economies and gives you tools for
Is it possible to teach a Marxist theory of value today in an
undergraduate course, as a matter of academic politics? One
purpose of my new book, From Capitalism to Equality...
The problem, of course, is the labor theory of value is "true" and
"operates" always and everywhere, while the
Barkley wrote:
... Let me mention one more aspect of this that may extend beyond just the
confines of the principles of econ class. If you
were following at all closely you may noticed me making a big deal about
whether books were using a vertical AS curve or not.
This assumption, increasingly
Brad writes:
The problem, of course, is the labor theory of value is "true" and
"operates" always and everywhere, while the relative stagnation of blue-,
pink-, and low-level white-collar wages is a post-1973 phenomenon.
I don't see the contradiction here. The key aspect of the "labor theory
Brad, are you saying that Marxian theory is necessarily linear, so that
everything smoothly leads to a final contradiction?
Is it possible to teach a Marxist theory of value today in an
undergraduate course, as a matter of academic politics? One
purpose of my new book, From Capitalism to
Jim wrote
Though this is true, it is very abstract. The phenomenon of the
post-1973 stagnation of wages ...can be explained only at a lower
level of abstraction. ...I would explain it in terms of the end of the
nation-state-based "model" of capitalist accumulation which
charlie,
Let me say that I and many of us teach it anyway
even in principles courses, but usually as a special
topic, not as the main approach.
Barkley Rosser
-Original Message-
From: charlie [EMAIL PROTECTED]
To: PEN-L [EMAIL PROTECTED]
Date: Tuesday, August 29, 2000 3:00 PM
charlie,
Damned difficult in most institutions in the US
for a principles course these days. Not so difficult
in other courses, such as contemporary issues
or some other ones.
Also depends a lot on the institution. A lot more
acceptable in most countries outside the US, although,
WAS: Re: [PEN-L:944] RE: Econ texts - possible to teach Marx seriously?
I wrote:
Though this is true, it is very abstract. The phenomenon of the
post-1973 stagnation of wages ...can be explained only at a lower
level of abstraction. ...I would explain it in terms of the end of the
Jim,
But usually this Say's Law argument is dragged
in for the long run analysis. But, the new wave led
by the execrable Mankiw (with even Colander now
tagging along, bah) is to place this huge emphasis
on long run growth. I imagine that Brad D. approves
of this, given his ten billion year
I don't know whether I missed posts in which AS/AD was expanded or
whether everyone has presumed knowledge from the beginning. But what
does AS/AD stand for?
Carrol
At 05:14 PM 8/29/00 -0400, you wrote:
usually this Say's Law argument [i.e., that saving promotes investment]
is dragged in for the long run analysis. But, the new wave led
by the execrable Mankiw (...) is to place this huge emphasis on long run
growth.
In the NATION magazine, there's an
Barkley wrote:
... Let me mention one more aspect of this that may extend beyond
just the confines of the principles of econ class. If you
were following at all closely you may noticed me making a big deal
about whether books were using a vertical AS curve or not.
This assumption, increasingly
Jim,
But usually this Say's Law argument is dragged
in for the long run analysis. But, the new wave led
by the execrable Mankiw (with even Colander now
tagging along, bah) is to place this huge emphasis
on long run growth. I imagine that Brad D. approves
of this, given his ten billion
I agree with Jim Devine that the Marxian theory of value is relevant at a
high level of abstraction. I also agree with his approach to analysing the
shifts in wages and salaries that have occurred in recent decades.
It is heartening that people are contemplating introducing value theory
into
Monday August 28, 11:48 am Eastern Time
WTO judges say U.S. should change anti-dumping law
GENEVA, Aug 28 (Reuters) - World Trade Organisation (WTO) judges on Monday
ruled that the United States must change a law which for 84 years has
provided for civil and criminal penalties on foreign firms
Carrol,
AS = aggregate supply and AD = aggregate demand.
BTW, although I spent a lot of time in my repartee with
that ex-hippie Peter Dorman, :-), on why or how AD slopes
down, that is not a big deal for me, although it is if one
wants to show a cost-push inflation. The more important
TheStandard.com
Fast, Cheap and Out of Control
By Stewart Taggart
Care to bank from a Pacific Island, store your online data in Scandinavia
and pay taxes in Barbados? A nicer mix of financial secrecy, data privacy
and low government levies would be hard to imagine.
If this multijurisdictional
This little item joins up the oil strategy. The eurasian area must be tied
into the European industrial area, preferably by providing cheap raw
material like fuel.
Note how the pipeline skirts Kosovo.
BTW I agree of course that NATO must have contingency plans to invade
again, or at least
This was one of the pieces that did not get through earlier.
An important economic development has occurred in Kosovo with the takeover
by NATO of the Trepca mines complex. This is the most valuable asset in Kosovo.
The conflict is in part a national one, since it appears from other sources
Stretton's book is interesting but very idiosyncratic -- not suitable for the
sort of course I want to teach. For me, there are two things I'm trying to
accomplish, to improve student's understanding of how economies work, and to
increase their ability to critique mainstream economics as an
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I wrote:
... The key classical assumption that pervades economics (and, seemingly,
Al Gore's mind) is not the assumption of continuous full employment but
rather the version of Say's Law that says that increased saving (nowadays
in the form of an increased government budget surplus) leads to
OK, I have a business-related question for anyone up on finance.
What do capital markets do? A standard Marxist answer, as I take it, is that
they redistribute surplus value from the immediate extractors to others, and
while I suppose that is true as far as it goes, I am looking for a less
Many people cc'd me their statements when they responded to the Nader
volunteer coordinator. These statements reveal very strong understandings
of the issues. I have put them up at:
http://www.marxmail.org/freespeech.htm
Except when they are made in an official capacity (Joel Kovel, Dave
system pen-l Perelman [EMAIL PROTECTED] #unsubscribe pen-l
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
Michael Perelman wrote:
system pen-l Perelman [EMAIL PROTECTED] #unsubscribe pen-l
Michael, you should pick a less obvious password, as any security
consultant would tell you!
Doug
You are right. Or I should be less careless when I send messages.
By the way, when does Colin return. I keep making changes and I want to
give him the most recent version.
Michael Perelman wrote:
system pen-l Perelman [EMAIL PROTECTED] #unsubscribe pen-l
Michael, you should pick a
Anthony could try
Murray, Robin. 1977. "Value and Theory of Rent: Part One." Capital and
Class, 3 (Autumn): pp. 100-22.
Louis Proyect wrote:
Hi Lou.
Would you please post the following.
Thank you for the long excerpt from Mandel on
agriculture, and rent.
I guess Mandel faithfully
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