Daedalean
@daedalean.bsky.social
Passionate about classical political economy and its timeless insights into the dynamics of society, power, and markets. Exploring the works of thinkers like Karl Marx, Michał Kalecki, Piero Sraffa, Joan Robinson, Pierangelo Garegnani, and Luigi Pasinetti.
"Kalecki's explanation for … the level of investment [being] what determines output and employment in a capitalist economy containing only capitalists and workers … was disarmingly simple" (J. Toporowski).
Michal Kalecki and the Politics of Full Employment
Polish economist Michal Kalecki is often linked with the “Keynesian revolution,” but Kalecki’s view of capitalism was much more radical than Keynes’s. His ideas are a vital tool for understanding how ...
jacobin.com
January 1, 2025 at 8:12 AM
"Kalecki's explanation for … the level of investment [being] what determines output and employment in a capitalist economy containing only capitalists and workers … was disarmingly simple" (J. Toporowski).
"The economic anarchy of capitalist society as it exists today is, in my opinion, the real source of the evil" (A. Einstein).
monthlyreview.org/2009/05/01/w...
monthlyreview.org/2009/05/01/w...
Monthly Review | Why Socialism?
Is it advisable for one who is not an expert on economic and social issues to express views on the subject of socialism? I believe for a number of reasons that it is.… Clarity about the aims and…
monthlyreview.org
December 16, 2024 at 1:14 AM
"The economic anarchy of capitalist society as it exists today is, in my opinion, the real source of the evil" (A. Einstein).
monthlyreview.org/2009/05/01/w...
monthlyreview.org/2009/05/01/w...
"For classical political economists like Smith and Ricardo, effectual demand is not a determinant of the natural price, for it emerges *after* nautral prices are formed by the conditions of production" (N. O. Martins).
books.google.ca/books/about/...
books.google.ca/books/about/...
The Cambridge Revival of Political Economy
The marginalist revolution of the late nineteenth century consolidated what Karl Marx and Piero Sraffa called ‘vulgar economy’, bringing with it an emphasis on a scarcity theory that replaced the clas...
books.google.ca
December 14, 2024 at 7:37 AM
"For classical political economists like Smith and Ricardo, effectual demand is not a determinant of the natural price, for it emerges *after* nautral prices are formed by the conditions of production" (N. O. Martins).
books.google.ca/books/about/...
books.google.ca/books/about/...
"In classical theory, demand ('effectual demand') and supply … were only introduced to explain the tendency of a commodity's actual price … towards a … 'natural' level which was itself determined without reference to such a demand and supply" (P. Garegnani).
www.tandfonline.com/doi/abs/10.1...
www.tandfonline.com/doi/abs/10.1...
Sraffa: the theoretical world of the ‘old classical economists’ *
Sraffa's mature work is seen here as a re-discovery and resumption of the ‘submerged and forgotten’ approach of the ‘old classical economists from Adam Smith to Ricardo’. Wages determined by broad ...
www.tandfonline.com
December 14, 2024 at 7:32 AM
"In classical theory, demand ('effectual demand') and supply … were only introduced to explain the tendency of a commodity's actual price … towards a … 'natural' level which was itself determined without reference to such a demand and supply" (P. Garegnani).
www.tandfonline.com/doi/abs/10.1...
www.tandfonline.com/doi/abs/10.1...
"In the classical theory of value and distribution, there is an objective conception of exchange value, where exchange value depends upon the conditions of production which determine the *natural price*" (N. O. Martins).
books.google.ca/books/about/...
books.google.ca/books/about/...
The Cambridge Revival of Political Economy
The marginalist revolution of the late nineteenth century consolidated what Karl Marx and Piero Sraffa called ‘vulgar economy’, bringing with it an emphasis on a scarcity theory that replaced the clas...
books.google.ca
December 14, 2024 at 7:19 AM
"In the classical theory of value and distribution, there is an objective conception of exchange value, where exchange value depends upon the conditions of production which determine the *natural price*" (N. O. Martins).
books.google.ca/books/about/...
books.google.ca/books/about/...
"Transformation problems necessarily arise when we compare institution-dependent prices with natural, or institution-independent, vertically integrated subsystems" (I. Wright).
academic.oup.com/cje/article/...
academic.oup.com/cje/article/...
Marx’s transformation problem and Pasinetti’s vertically integrated subsystems
Abstract. Pasinetti (1988) constructs a ‘complete generalization of Marx’s “transformation problem”’, in the context of a non-uniform growth model, by prov
academic.oup.com
December 14, 2024 at 7:12 AM
"Transformation problems necessarily arise when we compare institution-dependent prices with natural, or institution-independent, vertically integrated subsystems" (I. Wright).
academic.oup.com/cje/article/...
academic.oup.com/cje/article/...
"In Volume III of Capital, Marx seems to have been thinking in terms of a process of development in which the rate of exploitation would be more or less constant" (J. Robinson et al.).
books.google.ca/books/about/...
books.google.ca/books/about/...
An Introduction to Modern Economics
Provides a comprehensive introduction to economic principles and covers all of the major topics in an introductory micro and macro principles course. Addresses welfare economics early on to allow a so...
books.google.ca
December 10, 2024 at 5:29 AM
"In Volume III of Capital, Marx seems to have been thinking in terms of a process of development in which the rate of exploitation would be more or less constant" (J. Robinson et al.).
books.google.ca/books/about/...
books.google.ca/books/about/...
"In general, each commodity type has a different natural price in each hyper-subsystem" (I. Wright).
academic.oup.com/cje/article/...
academic.oup.com/cje/article/...
Marx’s transformation problem and Pasinetti’s vertically integrated subsystems
Abstract. Pasinetti (1988) constructs a ‘complete generalization of Marx’s “transformation problem”’, in the context of a non-uniform growth model, by prov
academic.oup.com
December 9, 2024 at 8:47 PM
"In general, each commodity type has a different natural price in each hyper-subsystem" (I. Wright).
academic.oup.com/cje/article/...
academic.oup.com/cje/article/...
"The theory of distribution developed, stage by stage, along with the development of the capitalist economy. … The classics thought of real wages as being fixed by the needs of subsistence defined in some physical terms" (J. Robinson et al.).
books.google.ca/books/about/...
books.google.ca/books/about/...
An Introduction to Modern Economics
Provides a comprehensive introduction to economic principles and covers all of the major topics in an introductory micro and macro principles course. Addresses welfare economics early on to allow a so...
books.google.ca
December 9, 2024 at 8:22 PM
"The theory of distribution developed, stage by stage, along with the development of the capitalist economy. … The classics thought of real wages as being fixed by the needs of subsistence defined in some physical terms" (J. Robinson et al.).
books.google.ca/books/about/...
books.google.ca/books/about/...
"The modern economic situation is a business situation, in that economic activity of all kinds is commonly controlled by business considerations. The exigencies of modern life are commonly pecuniary exigencies" (T. Veblen).
www.journals.uchicago.edu/doi/pdf/10.1...
www.journals.uchicago.edu/doi/pdf/10.1...
www.journals.uchicago.edu
December 9, 2024 at 7:50 PM
"The modern economic situation is a business situation, in that economic activity of all kinds is commonly controlled by business considerations. The exigencies of modern life are commonly pecuniary exigencies" (T. Veblen).
www.journals.uchicago.edu/doi/pdf/10.1...
www.journals.uchicago.edu/doi/pdf/10.1...
"To make growth in statistical CNP the main criterion of economic success is often justified by the argument that a rise in the total level of [purchases] of goods for the population as a whole will eliminate poverty" (J. Robinson et al., 1974).
books.google.ca/books/about/...
books.google.ca/books/about/...
An Introduction to Modern Economics
Provides a comprehensive introduction to economic principles and covers all of the major topics in an introductory micro and macro principles course. Addresses welfare economics early on to allow a so...
books.google.ca
December 9, 2024 at 6:53 AM
"To make growth in statistical CNP the main criterion of economic success is often justified by the argument that a rise in the total level of [purchases] of goods for the population as a whole will eliminate poverty" (J. Robinson et al., 1974).
books.google.ca/books/about/...
books.google.ca/books/about/...
"Everywhere we encounter the same motive: the theory of value is used as a theoretical starting point in order to justify the modern order of society" (N. Bukharin).
www.marxists.org/archive/bukh...
www.marxists.org/archive/bukh...
Economic Theory of the Leisure Class by Nikolai Bukharin 1919
www.marxists.org
December 9, 2024 at 5:16 AM
"Everywhere we encounter the same motive: the theory of value is used as a theoretical starting point in order to justify the modern order of society" (N. Bukharin).
www.marxists.org/archive/bukh...
www.marxists.org/archive/bukh...
"Good labour market standards would have the added advantage of ensuring that best use was made of government expenditure by removing the risk that any attempt to help the working poor would merely provide wage subsidies for the inefficient…" (R. Tarling et al.).
books.google.ca/books/about/...
books.google.ca/books/about/...
Systems of Production
In recent years we have seen the predictions of our forebears that leisure time would increase as the years pass utterly confounded. It is a fact of life that in major cities across the world, transpo...
books.google.ca
December 8, 2024 at 4:26 AM
"Good labour market standards would have the added advantage of ensuring that best use was made of government expenditure by removing the risk that any attempt to help the working poor would merely provide wage subsidies for the inefficient…" (R. Tarling et al.).
books.google.ca/books/about/...
books.google.ca/books/about/...
"Why do planes always cost more than pens? Why do sofas typically cost about the same as computers" (I. Wright)?
cosmonautmag.com/2024/02/marx...
cosmonautmag.com/2024/02/marx...
Marx, Faraday, and the Spectral Objectivity of Value - Cosmonaut
cosmonautmag.com
December 4, 2024 at 8:25 AM
"Why do planes always cost more than pens? Why do sofas typically cost about the same as computers" (I. Wright)?
cosmonautmag.com/2024/02/marx...
cosmonautmag.com/2024/02/marx...
"All remaining forms of the state are certain, determined, particular forms of the state. In democracy the formal principle is simultaneously the material principle. For that reason it is the first true unity of the universal and the particular" (K. Marx).
www.marxists.org/archive/marx...
www.marxists.org/archive/marx...
Notes for a Critique of Hegel's Philosophy of Right, by Karl Marx
www.marxists.org
December 3, 2024 at 6:14 AM
"All remaining forms of the state are certain, determined, particular forms of the state. In democracy the formal principle is simultaneously the material principle. For that reason it is the first true unity of the universal and the particular" (K. Marx).
www.marxists.org/archive/marx...
www.marxists.org/archive/marx...
"'The elimination of all social and political inequality,' rather than 'the abolition of all class distinctions,' is … a most dubious expression" (F. Engels).
www.marxists.org/archive/marx...
www.marxists.org/archive/marx...
Letters: Marx-Engels Correspondence 1875
Letters of Engels
www.marxists.org
December 2, 2024 at 7:21 AM
"'The elimination of all social and political inequality,' rather than 'the abolition of all class distinctions,' is … a most dubious expression" (F. Engels).
www.marxists.org/archive/marx...
www.marxists.org/archive/marx...
"It is a comment on economics today that the results established by Pasinetti, published in major journals and accepted to be correct, are nonetheless persistently ignored. Nor are these the only important cases" (M. Milgate et al.).
academic.oup.com/cje/article/...
academic.oup.com/cje/article/...
Luigi Pasinetti: an appreciation
Abstract. This article presents an appreciation of the lifetime contributions of Luigi Pasinetti to economics. In a career spanning 70 years, Pasinetti ope
academic.oup.com
November 30, 2024 at 12:26 AM
"It is a comment on economics today that the results established by Pasinetti, published in major journals and accepted to be correct, are nonetheless persistently ignored. Nor are these the only important cases" (M. Milgate et al.).
academic.oup.com/cje/article/...
academic.oup.com/cje/article/...
"But, why do commodities have prices? Marx points out that the activities of independent, private producers must be coordinated" (I. Wright).
cosmonautmag.com/2024/02/marx...
cosmonautmag.com/2024/02/marx...
Marx, Faraday, and the Spectral Objectivity of Value - Cosmonaut
cosmonautmag.com
November 30, 2024 at 12:14 AM
"But, why do commodities have prices? Marx points out that the activities of independent, private producers must be coordinated" (I. Wright).
cosmonautmag.com/2024/02/marx...
cosmonautmag.com/2024/02/marx...
"You honestly think you're going to sway me by appealing to the needs of nobles, merchants, and priests? If you abandoned conceptions of mine and thine, yes, such distinctions between men would dissolve" (Kondiaronk).
www.google.ca/books/editio...
www.google.ca/books/editio...
The Dawn of Everything
INSTANT NEW YORK TIMES BESTSELLER A dramatically new understanding of human history, challenging our most fundamental assumptions about social evolution—from the development of agriculture and cities ...
www.google.ca
November 29, 2024 at 4:47 PM
"You honestly think you're going to sway me by appealing to the needs of nobles, merchants, and priests? If you abandoned conceptions of mine and thine, yes, such distinctions between men would dissolve" (Kondiaronk).
www.google.ca/books/editio...
www.google.ca/books/editio...
"Joan Robinson distinguished economic analysis in 'logical' versus 'historical' time" (I. Wright).
ianwrightsite.wordpress.com/2017/04/08/s...
ianwrightsite.wordpress.com/2017/04/08/s...
Supply and demand in historical time
Supply and demand without intersecting curves.
ianwrightsite.wordpress.com
November 29, 2024 at 4:43 PM
"Joan Robinson distinguished economic analysis in 'logical' versus 'historical' time" (I. Wright).
ianwrightsite.wordpress.com/2017/04/08/s...
ianwrightsite.wordpress.com/2017/04/08/s...
"I have spent 6 years reflecting on the state of European society and I still can't think of a single way they act that is not inhuman and I generally think this can only be the case as long as you stick to your distinctions of 'mine' and 'thine'" (Kondiaronk).
www.google.ca/books/editio...
www.google.ca/books/editio...
The Dawn of Everything
INSTANT NEW YORK TIMES BESTSELLER A dramatically new understanding of human history, challenging our most fundamental assumptions about social evolution—from the development of agriculture and cities ...
www.google.ca
November 29, 2024 at 4:32 PM
"I have spent 6 years reflecting on the state of European society and I still can't think of a single way they act that is not inhuman and I generally think this can only be the case as long as you stick to your distinctions of 'mine' and 'thine'" (Kondiaronk).
www.google.ca/books/editio...
www.google.ca/books/editio...
"No one but man himself — with his own hands — produces these commodities and determines their prices, except that, here again, something flows from his actions which he does not intend or desire" (R. Luxemburg).
books.google.ca/books/about/...
books.google.ca/books/about/...
What is Economics?
books.google.ca
November 29, 2024 at 4:21 PM
"No one but man himself — with his own hands — produces these commodities and determines their prices, except that, here again, something flows from his actions which he does not intend or desire" (R. Luxemburg).
books.google.ca/books/about/...
books.google.ca/books/about/...
"Grafting Fisher's analysis of the rate of return onto Walras' capital model provides the missing demand for individual capital goods. But there remains the problem of the over-determined conditions for the prices of individual capital goods" (M. Milgate et al.).
academic.oup.com/cje/article/...
academic.oup.com/cje/article/...
Luigi Pasinetti: an appreciation
Abstract. This article presents an appreciation of the lifetime contributions of Luigi Pasinetti to economics. In a career spanning 70 years, Pasinetti ope
academic.oup.com
November 28, 2024 at 5:37 PM
"Grafting Fisher's analysis of the rate of return onto Walras' capital model provides the missing demand for individual capital goods. But there remains the problem of the over-determined conditions for the prices of individual capital goods" (M. Milgate et al.).
academic.oup.com/cje/article/...
academic.oup.com/cje/article/...
"The capitalist mode of production has brought matters to a point where the work of supervision, entirely divorced from the ownership of capital, is always readily obtainable. It has, therefore, come to be useless for the capitalist to perform it himself" (K. Marx).
www.marxists.org/archive/marx...
www.marxists.org/archive/marx...
Economic Manuscripts: Capital, Vol.3, Chapter 23
Capital, Volume 3
www.marxists.org
November 28, 2024 at 5:27 PM
"The capitalist mode of production has brought matters to a point where the work of supervision, entirely divorced from the ownership of capital, is always readily obtainable. It has, therefore, come to be useless for the capitalist to perform it himself" (K. Marx).
www.marxists.org/archive/marx...
www.marxists.org/archive/marx...
"But again, the industrial capitalist is not only a slave-driver" (J. W. Mason).
jwmason.org/slackwire/ma...
jwmason.org/slackwire/ma...
Marx on the Corporation – J. W. Mason
jwmason.org
November 28, 2024 at 5:16 PM
"But again, the industrial capitalist is not only a slave-driver" (J. W. Mason).
jwmason.org/slackwire/ma...
jwmason.org/slackwire/ma...