#economictheory — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #economictheory, aggregated by home.social.
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Prof Richard Murphy asks a number of question in this short blog, the central one being :’…who is asking where the money is coming from?’ And the others follow on from that one.
It is a very short read, but a telling one for #MMT and perhaps a calling out of all the hypocrites and their economic dogma.
#EconomicTheory #NeoClassicalEconomics #EconomicBigortry #antifa #EatTheRich
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CW: change the system, not just the rhetoric.
🎧 New #RevolutionNow podcast ep 58 drops the #IntegralWhitePaper & exposes the “Marxism” mirage. Joseph argues that market prices fail, vague ideologies hide real problems, and a cyber‑netic, post‑market system is needed. Listen & rethink systemic change!
Episode webpage: https://revolutionnow.podbean.com/e/revolution-now-w-peter-joseph-ep-58-integral-the-mirage-of-marxism/
Quick Overview
Core focus: Introduction of the Integral White Paper, a technically‑grounded, cyber‑netic framework meant to replace market‑driven economics with a coordinated, post‑scarcity system.
Key critique: Terms like socialism, communism, Marxism are treated as monolithic “actors” that mask real systemic analysis. Joseph argues they are empty abstractions that deflect attention from concrete structural change.
Market failure argument: Market price mechanisms are shown to be inadequate for genuine ecological balance, democratic coordination, and efficient economic calculation.
Integral proposal:
Five core subsystems (resource stewardship, collaborative value exchange, participatory governance, cyber‑netic feedback loops, and sustainability metrics).
Emphasis on human compatibility with cooperative structures rather than “human nature” myths.
Calls for structural redesign over ideological debate—change the system, not just the rhetoric.
Takeaway: To move beyond the “marriage of myth and capitalism,” we need a technically precise, system‑level alternative—the Integral model—rather than relying on vague left‑wing labels.
#PeterJoseph #Integral #Marxism #EconomicTheory #SystemsThinking #PostMarket #Cybernetics #SocialChange #Podcast #IntegralWhitePaper #CriticalTheory #CapitalismCritique
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CW: change the system, not just the rhetoric.
🎧 New #RevolutionNow podcast ep 58 drops the #IntegralWhitePaper & exposes the “Marxism” mirage. Joseph argues that market prices fail, vague ideologies hide real problems, and a cyber‑netic, post‑market system is needed. Listen & rethink systemic change!
Episode webpage: https://revolutionnow.podbean.com/e/revolution-now-w-peter-joseph-ep-58-integral-the-mirage-of-marxism/
Quick Overview
Core focus: Introduction of the Integral White Paper, a technically‑grounded, cyber‑netic framework meant to replace market‑driven economics with a coordinated, post‑scarcity system.
Key critique: Terms like socialism, communism, Marxism are treated as monolithic “actors” that mask real systemic analysis. Joseph argues they are empty abstractions that deflect attention from concrete structural change.
Market failure argument: Market price mechanisms are shown to be inadequate for genuine ecological balance, democratic coordination, and efficient economic calculation.
Integral proposal:
Five core subsystems (resource stewardship, collaborative value exchange, participatory governance, cyber‑netic feedback loops, and sustainability metrics).
Emphasis on human compatibility with cooperative structures rather than “human nature” myths.
Calls for structural redesign over ideological debate—change the system, not just the rhetoric.
Takeaway: To move beyond the “marriage of myth and capitalism,” we need a technically precise, system‑level alternative—the Integral model—rather than relying on vague left‑wing labels.
#PeterJoseph #Integral #Marxism #EconomicTheory #SystemsThinking #PostMarket #Cybernetics #SocialChange #Podcast #IntegralWhitePaper #CriticalTheory #CapitalismCritique
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CW: change the system, not just the rhetoric.
🎧 New #RevolutionNow podcast ep 58 drops the #IntegralWhitePaper & exposes the “Marxism” mirage. Joseph argues that market prices fail, vague ideologies hide real problems, and a cyber‑netic, post‑market system is needed. Listen & rethink systemic change!
Episode webpage: https://revolutionnow.podbean.com/e/revolution-now-w-peter-joseph-ep-58-integral-the-mirage-of-marxism/
Quick Overview
Core focus: Introduction of the Integral White Paper, a technically‑grounded, cyber‑netic framework meant to replace market‑driven economics with a coordinated, post‑scarcity system.
Key critique: Terms like socialism, communism, Marxism are treated as monolithic “actors” that mask real systemic analysis. Joseph argues they are empty abstractions that deflect attention from concrete structural change.
Market failure argument: Market price mechanisms are shown to be inadequate for genuine ecological balance, democratic coordination, and efficient economic calculation.
Integral proposal:
Five core subsystems (resource stewardship, collaborative value exchange, participatory governance, cyber‑netic feedback loops, and sustainability metrics).
Emphasis on human compatibility with cooperative structures rather than “human nature” myths.
Calls for structural redesign over ideological debate—change the system, not just the rhetoric.
Takeaway: To move beyond the “marriage of myth and capitalism,” we need a technically precise, system‑level alternative—the Integral model—rather than relying on vague left‑wing labels.
#PeterJoseph #Integral #Marxism #EconomicTheory #SystemsThinking #PostMarket #Cybernetics #SocialChange #Podcast #IntegralWhitePaper #CriticalTheory #CapitalismCritique
-
CW: change the system, not just the rhetoric.
🎧 New #RevolutionNow podcast ep 58 drops the #IntegralWhitePaper & exposes the “Marxism” mirage. Joseph argues that market prices fail, vague ideologies hide real problems, and a cyber‑netic, post‑market system is needed. Listen & rethink systemic change!
Episode webpage: https://revolutionnow.podbean.com/e/revolution-now-w-peter-joseph-ep-58-integral-the-mirage-of-marxism/
Quick Overview
Core focus: Introduction of the Integral White Paper, a technically‑grounded, cyber‑netic framework meant to replace market‑driven economics with a coordinated, post‑scarcity system.
Key critique: Terms like socialism, communism, Marxism are treated as monolithic “actors” that mask real systemic analysis. Joseph argues they are empty abstractions that deflect attention from concrete structural change.
Market failure argument: Market price mechanisms are shown to be inadequate for genuine ecological balance, democratic coordination, and efficient economic calculation.
Integral proposal:
Five core subsystems (resource stewardship, collaborative value exchange, participatory governance, cyber‑netic feedback loops, and sustainability metrics).
Emphasis on human compatibility with cooperative structures rather than “human nature” myths.
Calls for structural redesign over ideological debate—change the system, not just the rhetoric.
Takeaway: To move beyond the “marriage of myth and capitalism,” we need a technically precise, system‑level alternative—the Integral model—rather than relying on vague left‑wing labels.
#PeterJoseph #Integral #Marxism #EconomicTheory #SystemsThinking #PostMarket #Cybernetics #SocialChange #Podcast #IntegralWhitePaper #CriticalTheory #CapitalismCritique
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CW: change the system, not just the rhetoric.
🎧 New #RevolutionNow podcast ep 58 drops the #IntegralWhitePaper & exposes the “Marxism” mirage. Joseph argues that market prices fail, vague ideologies hide real problems, and a cyber‑netic, post‑market system is needed. Listen & rethink systemic change!
Episode webpage: https://revolutionnow.podbean.com/e/revolution-now-w-peter-joseph-ep-58-integral-the-mirage-of-marxism/
Quick Overview
Core focus: Introduction of the Integral White Paper, a technically‑grounded, cyber‑netic framework meant to replace market‑driven economics with a coordinated, post‑scarcity system.
Key critique: Terms like socialism, communism, Marxism are treated as monolithic “actors” that mask real systemic analysis. Joseph argues they are empty abstractions that deflect attention from concrete structural change.
Market failure argument: Market price mechanisms are shown to be inadequate for genuine ecological balance, democratic coordination, and efficient economic calculation.
Integral proposal:
Five core subsystems (resource stewardship, collaborative value exchange, participatory governance, cyber‑netic feedback loops, and sustainability metrics).
Emphasis on human compatibility with cooperative structures rather than “human nature” myths.
Calls for structural redesign over ideological debate—change the system, not just the rhetoric.
Takeaway: To move beyond the “marriage of myth and capitalism,” we need a technically precise, system‑level alternative—the Integral model—rather than relying on vague left‑wing labels.
#PeterJoseph #Integral #Marxism #EconomicTheory #SystemsThinking #PostMarket #Cybernetics #SocialChange #Podcast #IntegralWhitePaper #CriticalTheory #CapitalismCritique
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Socialist ends by market means: A history
https://lucasvance.github.io/2100/history/
#HackerNews #Socialism #History #MarketMeans #EconomicTheory #SocialChange
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🤔 Ah, the intellectual labyrinth where enabling #JavaScript is the ultimate key to unlocking the mysteries of economic theory! 🔑💡 If only Jevons and Baumol had known their paradoxes could be unraveled by turning on #cookies, we could all retire early from this mind-boggling complexity. 🍪💻
https://www.a16z.news/p/why-ac-is-cheap-but-ac-repair-is #EconomicTheory #TechHumor #MindBoggling #HackerNews #ngated -
🤔 Ah, the intellectual labyrinth where enabling #JavaScript is the ultimate key to unlocking the mysteries of economic theory! 🔑💡 If only Jevons and Baumol had known their paradoxes could be unraveled by turning on #cookies, we could all retire early from this mind-boggling complexity. 🍪💻
https://www.a16z.news/p/why-ac-is-cheap-but-ac-repair-is #EconomicTheory #TechHumor #MindBoggling #HackerNews #ngated -
🤔 Ah, the intellectual labyrinth where enabling #JavaScript is the ultimate key to unlocking the mysteries of economic theory! 🔑💡 If only Jevons and Baumol had known their paradoxes could be unraveled by turning on #cookies, we could all retire early from this mind-boggling complexity. 🍪💻
https://www.a16z.news/p/why-ac-is-cheap-but-ac-repair-is #EconomicTheory #TechHumor #MindBoggling #HackerNews #ngated -
🤔 Ah, the intellectual labyrinth where enabling #JavaScript is the ultimate key to unlocking the mysteries of economic theory! 🔑💡 If only Jevons and Baumol had known their paradoxes could be unraveled by turning on #cookies, we could all retire early from this mind-boggling complexity. 🍪💻
https://www.a16z.news/p/why-ac-is-cheap-but-ac-repair-is #EconomicTheory #TechHumor #MindBoggling #HackerNews #ngated -
The Paradoxical Efficient Market Hypothesis (2024)
https://3quarksdaily.com/3quarksdaily/2024/09/the-paradoxical-efficient-market-hypothesis.html
#HackerNews #ParadoxicalMarketHypothesis #EfficientMarketTheory #2024Finance #InvestmentInsights #EconomicTheory
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Life, Work, Death and the Peasant: Rent and Extraction
#HackerNews #LifeWorkDeath #Peasant #Rent #Extraction #EconomicTheory #SocialCommentary
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Life, Work, Death and the Peasant: Rent and Extraction
#HackerNews #LifeWorkDeath #Peasant #Rent #Extraction #EconomicTheory #SocialCommentary
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Life, Work, Death and the Peasant: Rent and Extraction
#HackerNews #LifeWorkDeath #Peasant #Rent #Extraction #EconomicTheory #SocialCommentary
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Life, Work, Death and the Peasant: Rent and Extraction
#HackerNews #LifeWorkDeath #Peasant #Rent #Extraction #EconomicTheory #SocialCommentary
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Life, Work, Death and the Peasant: Rent and Extraction
#HackerNews #LifeWorkDeath #Peasant #Rent #Extraction #EconomicTheory #SocialCommentary
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🤔 Who knew that people don't trust the age-old economic theory of supply and demand when it comes to housing? 📉 Apparently, the concept that more houses could lower prices is just too complex to grasp. 🏠 Maybe if we scatter a few more cookies around, the truth will finally stick! 🍪
https://www.aeaweb.org/articles?id=10.1257/jep.20241428 #supplyanddemand #housingtrust #economictheory #housingmarket #complexities #cookiesfortruth #HackerNews #ngated -
Why Socialism Fails: A Misesian Perspective - Socialism, despite its promises of equality and social welfare, inherently fails d... - https://news.bitcoin.com/why-socialism-fails-a-misesian-perspective/ #centralizedplanning #economiccalculation #learningandinsights #resourceallocation #economicfailure #economictheory #ludwigvonmises #misallocation #marketprices #economics #socialism
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Milton Friedman on Inflation: A Government-Made Disaster - Inflation is not a natural phenomenon but a consequence of government actions. Mil... - https://news.bitcoin.com/milton-friedman-on-inflation-a-government-made-disaster/ #economicinstability #learning-insights #governmentpolicy #economictheory #hyperinflation #miltonfriedman #monetarypolicy #pricecontrols #freemarket #inflation #shortages
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Milton Friedman on Inflation: A Government-Made Disaster - Inflation is not a natural phenomenon but a consequence of government actions. Mil... - https://news.bitcoin.com/milton-friedman-on-inflation-a-government-made-disaster/ #economicinstability #learning-insights #governmentpolicy #economictheory #hyperinflation #miltonfriedman #monetarypolicy #pricecontrols #freemarket #inflation #shortages
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Milton Friedman on Inflation: A Government-Made Disaster - Inflation is not a natural phenomenon but a consequence of government actions. Mil... - https://news.bitcoin.com/milton-friedman-on-inflation-a-government-made-disaster/ #economicinstability #learning-insights #governmentpolicy #economictheory #hyperinflation #miltonfriedman #monetarypolicy #pricecontrols #freemarket #inflation #shortages
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Milton Friedman on Inflation: A Government-Made Disaster - Inflation is not a natural phenomenon but a consequence of government actions. Mil... - https://news.bitcoin.com/milton-friedman-on-inflation-a-government-made-disaster/ #economicinstability #learning-insights #governmentpolicy #economictheory #hyperinflation #miltonfriedman #monetarypolicy #pricecontrols #freemarket #inflation #shortages
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> It’s as if someone were out there making up pointless jobs just for the sake of keeping us all working. And here, precisely, lies the mystery. In capitalism, this is precisely what is not supposed to happen.. the very sort of problem #MarketCompetition is supposed to fix. According to #EconomicTheory, at least, the last thing a profit-seeking firm is going to do is shell out money to workers they don’t really need to employ.
https://theanarchistlibrary.org/library/david-graeber-bullshit-jobs
https://www.davidgraeber.org/wp-content/uploads/2013-On-the-phenomenon-of-bullshit-jobs-A-work-rant.pdf
#DavidGraeber #BSJ -
I asked for a pint of estrogen at the pharmacy, but this is all they gave me.
Is this a sign of a looming recession?
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Bank economist inadvertently admits that neoclassical economic theory has little to do with reality:
"Good to see the economic theory playing out in reality, for once."
#KelvinDavidson, Chief Property Economist, #Corelogic
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Bank economist inadvertently admits that neoclassical economic theory has little to do with reality:
"Good to see the economic theory playing out in reality, for once."
#KelvinDavidson, Chief Property Economist, #Corelogic
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Bank economist inadvertently admits that neoclassical economic theory has little to do with reality:
"Good to see the economic theory playing out in reality, for once."
#KelvinDavidson, Chief Property Economist, #Corelogic
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Bank economist inadvertently admits that neoclassical economic theory has little to do with reality:
"Good to see the economic theory playing out in reality, for once."
#KelvinDavidson, Chief Property Economist, #Corelogic
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On the creative vacuum of leadership, the senseless occupation of humanity...and what we all might do next.
"Economies and entire civilizations have been built around whatever gives people more stuff to do. But just doing stuff, isn’t enough."
#Economics #Capitalism #Violence #BoredApes #Socialism #JobCreation #SocialTheory #EconomicTheory #Automation #BasicIncome #Creativity #History #Inequality
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Really happy to see this paper published: https://econtheory.org/ojs/index.php/te/article/view/20221619
Two reasons. First, a number of (IMHO) important recent papers are finally unlocking the potential of epistemic game theory to push the frontier beyond equilibrium in significant economic applications. This paper definitely belongs to this category.
Second, Luciano Pomatto was my student back in the day, and I had a lot of fun learning from him. Congrats! And someone please get him on 🐘
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Freeman’s Three Laws of Money
1) Money only exists when it is in motion.
2) The total value of money owned, whether by an individual or a society, will always change at an exponential rate.
3) The number of specialized experts in a society is always proportional to the abundance of money in that society.
I came up with these three laws recently as I have been refreshing my studies and going significantly in-depth on economic theory and the nature of money. I’d be curious to hear people’s impression of it.