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

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

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

We talked about concluding by working out the difference between Robinson and the peasant. Marx says that the medieval relations are what they appear to be--they are more direct personal relations and appear as such. Another way to put this ...Read More