Skip to main content

View Diary: The "Marxism is coming back" trope (264 comments)

Comment Preferences

  •  So true. Most economists I know have never (2+ / 0-)
    Recommended by:
    IreGyre, gjohnsit

    actually read Marx's "das Kapital," Smith's "Wealth of Nations," or even Keynes's "General Theory."
       So, discussions of any of the three are hampered by the fact that their understanding comes from second and third hand sources.
       I've never seen the value as "congealed labor" explanation given by Marx refuted except by simple affirmation.
       And neo-classical types are hilarious in their misunderstanding of Keynes, and their acceptance of things like the Friedman-Phelps long run Phillips Curve, which is entirely a creature of theory based on questionable simplifying assumptions.
       Whether history can be explained entirely as class struggle I don't know. But Marx's description of late stage capitalism (in which capitalist enterprises become more and more consolidated and international) seems right on target to me.

Subscribe or Donate to support Daily Kos.

  • Recommended (151)
  • Community (65)
  • Elections (43)
  • Civil Rights (38)
  • Culture (32)
  • 2016 (32)
  • Baltimore (28)
  • Texas (27)
  • Law (27)
  • Economy (27)
  • Bernie Sanders (27)
  • Environment (26)
  • Hillary Clinton (24)
  • Labor (23)
  • Health Care (21)
  • Rescued (21)
  • Barack Obama (20)
  • Republicans (19)
  • International (18)
  • Freddie Gray (17)
  • Click here for the mobile view of the site