But I couldn't take it very seriously when I realized it didn't even mention Marxism as a parallel or even rival economic theory. It didn't even mention Karl Marx in the index! Its as if he had never existed! Nobody believes in Sigmund Freud any more either, but can you imagine a psychology textbook that doesn't even mention his name?
Like all theories in the social sciences, Marxism is full of holes, holes which are debated and argued over by Marxist economists as well. And Marx's historical and political explanations are justifiably viewed with suspicion today. But he also has some keen insights into economics, and he also respects Adam Smith, the great definer of capitalism. He uses Smith in proving many of his arguments. Marx certainly accepted the law of supply and demand, and he also explained how easily it can be short-circuited by a clever businessman. In fact, getting around the law of s&d is the very definition of a clever businessman.
Off Topic » in reply to No offense taken. I'm having fun.
I did read a college economic textbook once.
The whole thread (75 posts)
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- OMFG this is frustrating
- We've covered this before, but you refused to accept it.
- podinium
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- 1980
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