Comments on: Why is it so hard for Economists to make a substantial critique of the LTV? http://dbzer0.com/blog/why-is-it-so-hard-for-economists-to-make-a-substantial-critique-of-the-ltv A bug in the code of the universe. Fri, 10 Feb 2012 10:12:21 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Zanthorus http://dbzer0.com/blog/why-is-it-so-hard-for-economists-to-make-a-substantial-critique-of-the-ltv/comment-page-1#comment-79638 Zanthorus Fri, 25 Dec 2009 19:40:39 +0000 http://dbzer0.com/?p=3143#comment-79638 I think it's pretty unfair to take one piss poor critique of Marx and then blanketly assert that no one can make a substantial critique of the LTV. Several critiques of Marx's value theory have been made at various points. Although I'm not economically literate enough to fully evaluate the tangled mess that surrounds classical theories of value and I will admit that quite a few critiques are simply attempts to apologise for neo-liberal orthodoxy and the status quo I wouldn't really be willing to put any substantial faith in it just yet. I think it's pretty unfair to take one piss poor critique of Marx and then blanketly assert that no one can make a substantial critique of the LTV. Several critiques of Marx's value theory have been made at various points. Although I'm not economically literate enough to fully evaluate the tangled mess that surrounds classical theories of value and I will admit that quite a few critiques are simply attempts to apologise for neo-liberal orthodoxy and the status quo I wouldn't really be willing to put any substantial faith in it just yet.

]]> By: Zanthorus http://dbzer0.com/blog/why-is-it-so-hard-for-economists-to-make-a-substantial-critique-of-the-ltv/comment-page-1#comment-79637 Zanthorus Fri, 25 Dec 2009 19:31:12 +0000 http://dbzer0.com/?p=3143#comment-79637 There's an excellent book exposing the fallacies and inconsistencies of Neo-Classical economics by the Post-Keynesian economist Steve Keen called "Debunking Economics" which attacks a lot of these kind of assumptions about everyone being rational hedonists. <a href="http://www.debunkingeconomics.com/" target="_blank">His site</a> is also pretty good. There's an excellent book exposing the fallacies and inconsistencies of Neo-Classical economics by the Post-Keynesian economist Steve Keen called "Debunking Economics" which attacks a lot of these kind of assumptions about everyone being rational hedonists. His site is also pretty good.

]]> By: Zanthorus http://dbzer0.com/blog/why-is-it-so-hard-for-economists-to-make-a-substantial-critique-of-the-ltv/comment-page-1#comment-79636 Zanthorus Fri, 25 Dec 2009 19:31:12 +0000 http://dbzer0.com/?p=3143#comment-79636 There's an excellent book exposing the fallacies and inconsistencies of Neo-Classical economics by the Post-Keynesian economist Steve Keen called "Debunking Economics" which attacks a lot of these kind of assumptions about everyone being rational hedonists. <a href="http://www.debunkingeconomics.com/" target="_blank">His site</a> is also pretty good. There's an excellent book exposing the fallacies and inconsistencies of Neo-Classical economics by the Post-Keynesian economist Steve Keen called "Debunking Economics" which attacks a lot of these kind of assumptions about everyone being rational hedonists. His site is also pretty good.

]]> By: How come the Christian and Capitalist ideologies fit together? | A Division by Zer0 http://dbzer0.com/blog/why-is-it-so-hard-for-economists-to-make-a-substantial-critique-of-the-ltv/comment-page-1#comment-79592 How come the Christian and Capitalist ideologies fit together? | A Division by Zer0 Tue, 22 Dec 2009 14:56:49 +0000 http://dbzer0.com/?p=3143#comment-79592 [...] Why is it so hard for Economists to make a substantial critique of the LTV? [...] [...] Why is it so hard for Economists to make a substantial critique of the LTV? [...]

]]> By: Anon73 http://dbzer0.com/blog/why-is-it-so-hard-for-economists-to-make-a-substantial-critique-of-the-ltv/comment-page-1#comment-79395 Anon73 Fri, 11 Dec 2009 01:26:51 +0000 http://dbzer0.com/?p=3143#comment-79395 Since the ruling elite controls the money supply/system I daresay that's true! Since the ruling elite controls the money supply/system I daresay that's true!

]]> By: db0 http://dbzer0.com/blog/why-is-it-so-hard-for-economists-to-make-a-substantial-critique-of-the-ltv/comment-page-1#comment-79391 db0 Thu, 10 Dec 2009 07:02:23 +0000 http://dbzer0.com/?p=3143#comment-79391 The difference is that physicists use such scenarios as exercises, not as descriptions of reality. They didn't assume away friction in order to figure out the gravitational acceleration of earth. They simply observed how it worked and figured it out. So while fantastical scenarios have their place in learning physics, it has no place in describing reality. The difference is that physicists use such scenarios as exercises, not as descriptions of reality. They didn't assume away friction in order to figure out the gravitational acceleration of earth. They simply observed how it worked and figured it out.

So while fantastical scenarios have their place in learning physics, it has no place in describing reality.

]]> By: db0 http://dbzer0.com/blog/why-is-it-so-hard-for-economists-to-make-a-substantial-critique-of-the-ltv/comment-page-1#comment-79392 db0 Thu, 10 Dec 2009 06:05:16 +0000 http://dbzer0.com/?p=3143#comment-79392 There's money to be made in apologizing for the ruling elite. There's money to be made in apologizing for the ruling elite.

]]> By: Anon73 http://dbzer0.com/blog/why-is-it-so-hard-for-economists-to-make-a-substantial-critique-of-the-ltv/comment-page-1#comment-79389 Anon73 Thu, 10 Dec 2009 02:03:21 +0000 http://dbzer0.com/?p=3143#comment-79389 I guess it depends on your assessment of what constitutes a "ridiculous" assumption. Physicists often make approximating assumptions that seem silly or invalid, like assuming away friction in a mechanics problem or assuming there is no terminal velocity in analyzing the trajectory of a baseball. Other times they assume integrals exist that are infinite or that a certain series works as an approximation even if it diverges. I guess it depends on your assessment of what constitutes a "ridiculous" assumption. Physicists often make approximating assumptions that seem silly or invalid, like assuming away friction in a mechanics problem or assuming there is no terminal velocity in analyzing the trajectory of a baseball. Other times they assume integrals exist that are infinite or that a certain series works as an approximation even if it diverges.

]]> By: Broadsnark http://dbzer0.com/blog/why-is-it-so-hard-for-economists-to-make-a-substantial-critique-of-the-ltv/comment-page-1#comment-79387 Broadsnark Thu, 10 Dec 2009 01:49:47 +0000 http://dbzer0.com/?p=3143#comment-79387 That makes me crazy too. I'm trying to learn more economics, but it is soooo hard to get past the bs. I love how they have disclaimers like "As usual, we assume rational and forward-looking individuals who can perfectly assess the effects of choices in each stage." Which is A. ridiculous and B. not at all what they assume Argh That makes me crazy too. I'm trying to learn more economics, but it is soooo hard to get past the bs. I love how they have disclaimers like

"As usual, we assume rational and forward-looking individuals who can perfectly assess the effects of choices in each stage."

Which is

A. ridiculous and
B. not at all what they assume

Argh

]]> By: Sitakali http://dbzer0.com/blog/why-is-it-so-hard-for-economists-to-make-a-substantial-critique-of-the-ltv/comment-page-1#comment-79384 Sitakali Wed, 09 Dec 2009 20:50:09 +0000 http://dbzer0.com/?p=3143#comment-79384 With arguments like this out there, I cannot understand why pro-capitalists continue to exist. With arguments like this out there, I cannot understand why pro-capitalists continue to exist.

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