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.
"If some individual capitalists earn more than this, others will have to earn less" (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
"If some individual capitalists earn more than this, others will have to earn less" (J. Toporowski).
"If capitalists sell their goods to earn a profit, then the most that they can collectively recover by selling those goods to their workers is the total value of what the capitalists have paid the latter in wages" (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
"If capitalists sell their goods to earn a profit, then the most that they can collectively recover by selling those goods to their workers is the total value of what the capitalists have paid the latter in wages" (J. Toporowski).
"The education of the individual, in addition to promoting his own innate abilities, would attempt to develop in him a sense of responsibility for his fellow men in place of the glorification of power and success in our present society" (Einstein).
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
January 1, 2025 at 6:26 AM
"The education of the individual, in addition to promoting his own innate abilities, would attempt to develop in him a sense of responsibility for his fellow men in place of the glorification of power and success in our present society" (Einstein).
"A planned economy, which adjusts production to the needs of the community, would distribute the work to be done among all those able to work and would guarantee a livelihood to every man, woman, and child" (Einstein).
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
January 1, 2025 at 6:26 AM
"A planned economy, which adjusts production to the needs of the community, would distribute the work to be done among all those able to work and would guarantee a livelihood to every man, woman, and child" (Einstein).
"In such an economy, the means of production are owned by society itself and are utilized in a planned fashion" (Einstein).
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
January 1, 2025 at 6:26 AM
"In such an economy, the means of production are owned by society itself and are utilized in a planned fashion" (Einstein).
"I am convinced there is only one way to eliminate [the] grave evils [of capitalism], namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals" (Einstein).
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
January 1, 2025 at 6:26 AM
"I am convinced there is only one way to eliminate [the] grave evils [of capitalism], namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals" (Einstein).
"In this respect, it is important to realize that the means of production— … the entire productive capacity that is needed for producing consumer goods as well as additional capital goods—may legally be … the private property of individuals" (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
"In this respect, it is important to realize that the means of production— … the entire productive capacity that is needed for producing consumer goods as well as additional capital goods—may legally be … the private property of individuals" (A. Einstein).
monthlyreview.org/2009/05/01/w...
monthlyreview.org/2009/05/01/w...
"We see before us a huge community of producers the members of which are unceasingly striving to deprive each other of the fruits of their collective labor—not by force, but on the whole in faithful compliance with legally established rules" (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
"We see before us a huge community of producers the members of which are unceasingly striving to deprive each other of the fruits of their collective labor—not by force, but on the whole in faithful compliance with legally established rules" (A. Einstein).
monthlyreview.org/2009/05/01/w...
monthlyreview.org/2009/05/01/w...
"Effectual demand is constituted by those who are willing to pay the natural price, and have the means to do so" (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
"Effectual demand is constituted by those who are willing to pay the natural price, and have the means to do so" (N. O. Martins).
books.google.ca/books/about/...
books.google.ca/books/about/...
"That is in the classical scheme, the conditions of production (the cost of production measured in terms of human labour) determine the natural price, which in turn is a determinant of effectual demand" (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
"That is in the classical scheme, the conditions of production (the cost of production measured in terms of human labour) determine the natural price, which in turn is a determinant of effectual demand" (N. O. Martins).
books.google.ca/books/about/...
books.google.ca/books/about/...
"In fact Smith's 'effectual demand' could only be described as a *point*, and not a *schedule*, in the price-quantity space" (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 fact Smith's 'effectual demand' could only be described as a *point*, and not a *schedule*, in the price-quantity space" (P. Garegnani).
www.tandfonline.com/doi/abs/10.1...
www.tandfonline.com/doi/abs/10.1...
"Thus, 'effectual demand' was defined by Smith as 'the demand of those who are willing to pay the natural price of the commodity' with the 'natural' or normal price being therefore a necessary datum for defining that 'demand' itself" (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
"Thus, 'effectual demand' was defined by Smith as 'the demand of those who are willing to pay the natural price of the commodity' with the 'natural' or normal price being therefore a necessary datum for defining that 'demand' itself" (P. Garegnani).
www.tandfonline.com/doi/abs/10.1...
www.tandfonline.com/doi/abs/10.1...
"Thus the market price will gravitate around the natural price, as Smith argues, but it is very difficult to trace the exact steps by which this gravitation takes place" (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
"Thus the market price will gravitate around the natural price, as Smith argues, but it is very difficult to trace the exact steps by which this gravitation takes place" (N. O. Martins).
books.google.ca/books/about/...
books.google.ca/books/about/...
"But if demand is systematically driving the market price above (or below) the cost of production, more (or less) goods will be produced, bringing the market price back to 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
"But if demand is systematically driving the market price above (or below) the cost of production, more (or less) goods will be produced, bringing the market price back to the natural price" (N. O. Martins).
books.google.ca/books/about/...
books.google.ca/books/about/...
"The natural price reflects the cost of production, measured in terms of human labour. The *market price*, which is the price that is actually observed in the economy, may be different from 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
"The natural price reflects the cost of production, measured in terms of human labour. The *market price*, which is the price that is actually observed in the economy, may be different from the natural price" (N. O. Martins).
books.google.ca/books/about/...
books.google.ca/books/about/...
"A suitably generalised labour theory of value is therefore neither incomplete or incoherent, and need not be restricted to a normative role, but spans both the natural and institutional stages of analysis" (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
"A suitably generalised labour theory of value is therefore neither incomplete or incoherent, and need not be restricted to a normative role, but spans both the natural and institutional stages of analysis" (I. Wright).
academic.oup.com/cje/article/...
academic.oup.com/cje/article/...
"The problems therefore dissolve once we compare prices with vertically integrated subsystems induced by the specific institutional setup of an economy" (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
"The problems therefore dissolve once we compare prices with vertically integrated subsystems induced by the specific institutional setup of an economy" (I. Wright).
academic.oup.com/cje/article/...
academic.oup.com/cje/article/...
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December 13, 2024 at 7:58 AM
Boorjwahzee, I mean burgeewazee, I mean boojwahsee, I mean burjwahzey, I mean boorjwahsneeze, I mean fuck.
edit: "Sraffa's result that for rates of profit between zero and [its] maximum (i.e. for 0 < r < r~max~) 'the price of every commodity [resolves itself] into a sum of profit-weighted quantities of labour' (Pasinetti, 1973, p. 31)" (Milgate et al., 2024, p. 970).
December 13, 2024 at 7:48 AM
edit: "Sraffa's result that for rates of profit between zero and [its] maximum (i.e. for 0 < r < r~max~) 'the price of every commodity [resolves itself] into a sum of profit-weighted quantities of labour' (Pasinetti, 1973, p. 31)" (Milgate et al., 2024, p. 970).