Re:Economists Are Rethinking the Numbers on Inequality
by romey on Wednesday December 04, 2019 @12:19PM
(#21704247)
Would you happen to have some suggestions on where to start further reading of radical economics? I'm halfway through "Doughnut Economics" right now, but it's a bit simple -- I was looking for something more challenging.
Re:Economists Are Rethinking the Numbers on Inequality
by claudiawerner on Wednesday December 04, 2019 @12:53PM
(#21704755)
J.E. Roemer's classic 1982 book[0] on exploitation from a game-theoretic standpoint is generally the beginning of the post-Marxian era of radical economics. However, his is not the only approach, now there are theories which attempt to reformulate the Marxist concept into a theory of unequal exchange of labour. Roberto Veneziani[1] has a great many papers on this theory of exploitation, expressed mathematically, in particular, two principles: profit-exploitation correspondance principle, and the class-exploitation correspondance principle. Andrew Kliman[2] and Fred Moseley[3] are two economists with very contrasting approaches to Marx's labour theory of value and its application today, as well as other "problems" in Marx (such as the transformation problem). Moseley also criticizes some of Piketty's methods[4]. Kliman and Patrick Murray agree that, providing the labour theory of value is true, then we can deduce Marxian exploitation - however their approach is less economic and more philosophical. This is because Murray objects to the use of neoclassical models and methods, with good reason[5]. Vrousalis[6] takes a non-Marxian approach to dominatiton and exploitation under capitalism.
For the latest stuff in the field, check out the main journals[7][8] and Brill's Historical Materialism book series, and this one[9] in particular.
[0] https://www.hup.harvard.edu/catalog.php?isbn=9780674435865
[1] https://academic.oup.com/cje/article-abstract/41/6/1607/4598...
[2] http://digamo.free.fr/kliman2007.pdf
[3] https://www.mtholyoke.edu/~fmoseley/Working_Papers_PDF/macro...
[4] https://www.tandfonline.com/doi/abs/10.1080/08911916.2015.10...
[5] https://www.cpp.edu/~jet/Documents/JET/Jet15/Schuler19-28.pd...
[6] https://www.tandfonline.com/doi/full/10.1080/00346764.2019.1...
[7] https://journals.sagepub.com/home/rrp
[8] https://www.jstor.org/journal/worlrevipoliecon?refreqid=exce...
In other words, Piketty gets so much criticism because he's the least radical of a bunch of radical economists, and because of that, he hasn't left capital's horizon.