Here is that quote on the false solution to the problem of exchange put forward by marginal utility theory. It's from the reification section of History and Class Consciousness (1923): "Marx acutely summed up this situation with reference to economics when ...Read More

Maybe as a way to stay closer to the schedule we could keep up on this site. For next week, before taking on chapter 3, we should get through the discussion of the relative and equivalent form—as well as the ...Read More

Paul Krugman's blog today ("Thank you, Boeing") has a short entry on Oliver Williamson's research into why there are so many big firms--rather than just a market coordinating individuals and small firms: "Williamson answered this in terms of the difficulties of writing ...Read More

In honor of our finishing chapters 26-33, here is a replay for today: December 21, 2010 African Farmers Displaced as Investors Move In By NEIL MacFARQUHAR SOUMOUNI, Mali — The half-dozen strangers who descended on this remote West African village brought its hand-to-mouth farmers alarming ...Read More

Going back to our discussion on why the means of production cannot be the source of surplus value, Richard was right. The way we were discussing technology/constant capital was inadequate. The uneasiness I had with Marx's depreciation model that only allowed ...Read More

I confess that if Tom and Richard hadn’t mentioned it, I would not probably have given any further thought on the issue of productive vs. unproductive labor in Marx. Robert and I discussed about it. I made some research, and I ...Read More

This entry from A Dictionary of Marxist Thought (Tom Bottomore ed., 2nd ed.) does not really clear up the issue we looked at but it is a bit different from what I said this morning. It does not address the ...Read More

We've added a Resources page to the site. Our first upload is a diagram of Marx's argument in Capital by David Harvey. See it here. Read More

Based on our discussion on the labor theory of value against both classical political economy and modern marginalist theories I post this link to a Paul Krugman piece from the NYT Magazine earlier this year. In it you can see ...Read More

That quote of Althusser is indeed one of my favorites: "as there is no such thing as an innocent reading, we must say what reading we are guilty of." George, I am very glad that you share our enthusiasm for ...Read More