AynCrap

Marxian economics defies epistemology and ontology, and so is unfalsifiable, making it not even wrong. Next month I will post several posts taking to task the labour theory of value, exploitation of labour theory, capital accumulation as formulated by Marx and the theory of the declining rate of profit. Each of these will get a separate post. Also forthcoming will be posts about historical attempts to apply Marxian theory (or subsequent bastardisations of it) in building total state and democratic socialism with a view to attaining communism. This discounts places like Argentina, Somalia and India. I'll be covering the Soviet Union, China, Ethiopia, Angola, Venezuela and Zimbabwe, one post each. March against Marx, people!

Watch this from 1:05:40 to about 1:10:00ish. Enjoy, beaches!

A Youtuber calling himself axe863 has published a few funky videos. This one makes me happy as it neatly sums up the content and consequences of capitalism over time versus what a lot of people say about it. Stay non-trivially non-stationary, folks!

Daron Acemoglu is an economist in the New Institutional(ist) tradition, a twist on the anti-epistemology called Institutional Economics that sit somewhere between the old-school Institutionalists and Neoclassical / New Classical economics. Alongside Behavioural economics most of the really funky new knowledge is coming from New Institutionalists like Acemoglu. In a book that is online for free  (pdf) he explains basically all of modern macroeconomics. So during March I will need to post an overview of this book as well as Friedman's price theory one (which I originally said I'd offer this month, but I have been delayed by life). Love ya!

The Lolberts podcast might actually be the greatest, most significant thing to ever happen. Really. Go to there. Listen to the v a p o r of Jim Jesus and whoever is co-hosting a given episode. Go to the bottom of the page and start listening. Work your way up. Realise that Jim Jesus understands, where you do not. Enjoy!

So apparently the advert below is making me buy Ribena by hijacking my mind. I've included it here for its adorable humour, Enjoy! Yet I haven't bought any, and this advert wouldn't persuade me.

I previously blogged that there is one economic activity and I called it exchange. I still hold to that, but when I talked about the forms it takes I only mentioned distribution and production... What about consumption? Whoops. So, yeah, three forms of exchange through action, not two. Sorry! Love ya, I need to learn econ.

I recently posted an entry about India under the influence of Fabianism. Soon comes a post engaging with the Soviet Union. But while we wait, here's Yuri Maltsev, an economist who worked - as an economist - for the government of the USSR. He now considers himself an Austrian School guy. Give him a listen. His verbal style is a bit halting but he gives an excellent summary of the Soviet Union. Love ya!

Amanda BillyRock lays a verbal smackdown on the USA, Chile, the UK and New Zealand in under 45 minutes. I would suggest that you view this because her examples of the inpisid influence on human interaction (society) by the states of these countries, whether nonsensical road policy in the UK and US, or ridiculous substance transit controls in Chile. Enjoy! Love ya, learn econ.

Today I learned that the Oneida silverware-making company has a fascinating origin story. The company offers high-quality silverware and has been in business for a long time dating back to 1880. [ 1 ][ 2 ] Why that year? Because that's around the time that the Oneida Community dissolved. [ 3 ][ 4 ] Thanks to David Friedman in an interview for the Voluntary Virtues Network I am now aware of this. [ 5 ] The law between me and you is The same as the law between you and me And we may disagree as to what the law should be But what's the big deal? Basically the Oneida Community was a commune organised on a basis of free love, with up to 300 members. All production and distribution by and between the commune members was handled by 27 standing committees and . John Humphrey Noyes' belief in the doctrine of perfectionism found expression in the community, where every man was the husband of every woman, and every woman was the wife of every man. This is a very literal inter