"Studying history is the most important teacher"
In this episode of Dialectic at Work, the dialectic explores the history of economic thought, focusing on Marx's approach to understanding capitalism,
As a side note,--I think Trump woke up this morning thinking how he can get cheap oil from the Iranians as part of his negotiations on a deal to open the Strait. IF he were a good capitalist he would be thinking that because that is the logic of a capitalist. A president is not thinking about cheaper goods for a larger share of the market as a motive for his negotiations with the Iranians, a president would be thinking a mutual resolution to end a conflict, not how do I get a larger share of the oil market from this situation. Cheaper goods translates into lower wages for workers at home and lower wages translates into larger profits for shareholders of corporations. Trump can never be on the side of workers objectively speaking, however, subjectively he deceives people he puts America before all other nations when other nations enrich him.
What has Planned Obsolescence done to Capitalism since WWII?
Karl Marx mentioned 'depreciation' 120 times in Das Kapital but there were no automobiles to be designed to depreciate.
The NET Domestic Product had not been developed either. Now our Brilliant Economists leave Demand Side Depreciation out of the Net while adding the purchases of consumer garbage to the Gross.
Running a planet on defective algebra from the time the population was 2.5 Billion until it became 8 Billion has been such a Brilliant Idea. 😂
Imagine being at the time of Marx and see the old way of thinking and the new thinking way of capitalism. Before people were thinking and working in term of doing good thing that last and the most efficient possible sharing idea FREELY... while the beginning of the new path was to profit from that idea and save it to yourself with copyrights. Nothing about sustainability. and long lasting products.. they just take it out of the production.
Operationalising Marxian economics as explained in 'Capital IV, Structurally completes the concepts in the 3 volumes of Marx's Capital' by Peter Cookson, explains how the richness of Marx's work is only appreciated fully when real numerical examples are studied. The book is full of mathematically worked examples.
Thank you dear Shahram for the thought provoking discussion
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Karl Marx mentioned 'depreciation' 120 times in Das Kapital but there were no automobiles to be designed to depreciate.
The NET Domestic Product had not been developed either. Now our Brilliant Economists leave Demand Side Depreciation out of the Net while adding the purchases of consumer garbage to the Gross.
Running a planet on defective algebra from the time the population was 2.5 Billion until it became 8 Billion has been such a Brilliant Idea. 😂
Thank you ❤