10 Brutal Realities of Life in Stalin’s Soviet Union
13 Apr 2018 1 Comment
in economic history, economics of crime, Marxist economics, Public Choice Tags: Stalin, USSR
What North Korean Defectors Think Of North Korea | ASIAN BOSS
13 Apr 2018 Leave a comment
in development economics, economics of bureaucracy, Marxist economics, Public Choice Tags: North Korea
Nick Cohen on Noam Chomsky and the Far-Left’s lack of solutions and Anti-Semitism
06 Apr 2018 Leave a comment
in discrimination, economic history, law and economics, Marxist economics, poverty and inequality, Public Choice, war and peace Tags: Nick Cohen, Noam Chomsky, regressive left
Are @JeremyCorbyn Deirdre McCloskey and even John Rawls on the same page on The Great Enrichment?
03 Apr 2018 Leave a comment
in development economics, economic history, income redistribution, Marxist economics, poverty and inequality, Public Choice, Rawls and Nozick Tags: British politics, difference principle, distributive justice, social justice, The Great Enrichment, The Great Escape
How to Spot a 1950s Communist
03 Apr 2018 Leave a comment
in defence economics, economics of crime, law and economics, Marxist economics, war and peace Tags: collapse of communism
How to Spot a 1950s Communist
03 Apr 2018 Leave a comment
in defence economics, economics of crime, law and economics, Marxist economics, war and peace Tags: collapse of communism
How to Spot a 1950s Communist
03 Apr 2018 Leave a comment
in defence economics, economics of crime, law and economics, Marxist economics, war and peace Tags: collapse of communism
Why Socialism Doesn’t Work In 55 Seconds
31 Mar 2018 Leave a comment
in applied price theory, economics of bureaucracy, Marxist economics, Public Choice Tags: Ronald Reagan
The labour theory of value
29 Mar 2018 Leave a comment
in applied price theory, entrepreneurship, human capital, industrial organisation, labour economics, labour supply, Marxist economics, survivor principle Tags: labour theory of value
“A few observations:
- The Labor Theory of Value is incapable of functionally explaining even basic economic relationships. See Menger 1871.
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The notion that class identity functionally drives political or any other type of collective action is hopelessly incoherent and undermined by a pervasive free rider problem. See Olson 1965.
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Even if one were to assume that the initial allocation of all property is by mere theft (and it is not), its effectual consequences are entirely subordinate to the question of whether property rights exist in the first place. See Coase 1960.
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The predictive ability of historical materialism in the ~150 years since its formulation is practically zero, although the cost of attempting to force its predictions into being is several hundred million bodies.
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In practice, the concept of alienation is indistinguishable from subjective emoting about things that the individual exhibiting “estrangement” envies, and envy is a difficult concept to defend as the basis of a system of social allocation as it reduces to little more than subjective valuation executed by forcible acquisition.
If the above observations are true, what exactly remains again of the Marxist system of thought that is of any value in explaining anything?”
- Phil Magness
Christopher Hitchens – North Korea
29 Mar 2018 Leave a comment
in economics of bureaucracy, Marxist economics, Public Choice Tags: Christopher Hitchens, North Korea
Mao and the Great Leap Forward
23 Mar 2018 Leave a comment
in development economics, economic history, Marxist economics
About right
04 Mar 2018 Leave a comment
in history of economic thought, liberalism, Marxist economics Tags: Leftover Left, political correctness
HT Peter Creswell
George B. N. Ayittey: The Failure of African Socialism
03 Mar 2018 Leave a comment
in applied price theory, development economics, economic history, economics of bureaucracy, growth disasters, Marxist economics, Public Choice Tags: Africa
How to Spot a Communist Using Literary Criticism (1955)
25 Feb 2018 Leave a comment
in Marxist economics Tags: communism
Utopia, you are standing in it! 
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