On Value, Subjective
David Z | November 2, 2009
Menger makes it abundantly clear, however, and takes pain to repeat himself on several occasions in Principles, Ch.3, that no such property or characteristic as “value” exists in the first place.
Usury: Three Questions
David Z | October 13, 2009
Jones and Smith are on an island. Each of them is capable of catching about 1 fish per day, which is nice because they need approximately 1 fish per day in order to survive. Over time, Smith has accumulated a small excess reserve of fish, maybe a few days worth. In any event, one [...]
Marx’s General Formula for Capital
David Z | February 2, 2009
A brief discussion of Marx’s general formulation for capital, C-M-C.
Marx and the Secret of Primitive Accumulation
David Z | February 1, 2009
One of Marx’s assumptions was the secret of “primitive accumulation.” A brief discussion of that concept.
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