Yeah this is kinda what I mean about Marxist economists: Broad strokes, high level, followable narrative that jives with overall aggregate data, often emphasizes important dynamics that others just totally do not mention, or garble-explain with technobabble?
Yes, good, generally very insightful and accurate in many ways.
But, when you go down to the nitty gritty level… it either just isn’t there, or is pretty clearly just wrong.
Like I’m sorry, but you can’t build a microeconomics based off of only the labor theory of value, it just does not work.
You can use it in certain situations where it becomes a reasonable approximation, but it is far from comprehensive.
And yes, I also find Krugman to be insufferably wonkish, I also still hate him for basically going along with bailing out the banks in the 08 GFC, instead of fucking jailing their execs and/or at least temporarily nationalizing them.
And and, Gary’s Economics is also generally good, though I haven’t seen too much of his stuff.
Yeah this is kinda what I mean about Marxist economists: Broad strokes, high level, followable narrative that jives with overall aggregate data, often emphasizes important dynamics that others just totally do not mention, or garble-explain with technobabble?
Yes, good, generally very insightful and accurate in many ways.
But, when you go down to the nitty gritty level… it either just isn’t there, or is pretty clearly just wrong.
Like I’m sorry, but you can’t build a microeconomics based off of only the labor theory of value, it just does not work.
You can use it in certain situations where it becomes a reasonable approximation, but it is far from comprehensive.
And yes, I also find Krugman to be insufferably wonkish, I also still hate him for basically going along with bailing out the banks in the 08 GFC, instead of fucking jailing their execs and/or at least temporarily nationalizing them.
And and, Gary’s Economics is also generally good, though I haven’t seen too much of his stuff.