Economics and Liberating Theory - Part 3 docx

... of self-managed and other-directed or alienated labor, and from the supervisory costs of monitoring employees. Conse- quently the model fails to capture differences in outcomes from labor and credit ... of fact, 1 3 is not an equilibrium wage. At w = 1 3 all 900 seedless people would want to work 3 days each as employees. That would be a total supply of labor of 900 (3) = 2700 da...

Ngày tải lên: 02/07/2014, 21:20

... ECONOMY MACRO ECONOMICS AND IMF CONDITION- ALITY AGREEMENTS In chapters 6 and 7 we learned how aggregate demand explains the causes of some kinds of unemployment and inflation, and studied the ... goods and services available. And besides the demand that comes from the domestic household, business, and government sectors, foreign demand for exports adds to the demand for final...

Ngày tải lên: 02/07/2014, 21:20

... question. Economics and Liberating Theory 3 dependent on our social environment – as explained below. Since a few species needs and powers are especially critical to understanding how humans and human ... liberation and anti- racist movements, and anarchism, as well as from mainstream psychology, sociology, and evolutionary biology where useful. Liberating theory attem...

Ngày tải lên: 02/07/2014, 21:20

... lower demand, and therefore supply of the activity will be, leading to ever greater misallocations of productive resources as time goes on, and What Should We Demand from Our Economy? 39 13. For ... from 1947 to 19 93. The steady increase in the Gini coefficient from a low of 0.405 in 1966 to a high of 0.479 in 19 93 represents a remarkable, and his- torically unprecedented 18 .3%...

Ngày tải lên: 02/07/2014, 21:20

... supply and demand closely approximate true marginal social costs and benefits then the individually rational behavior of buyers and sellers and the workings of the micro law of supply and demand ... excess supply and excess demand, and only at the equilibrium price is there neither excess supply nor excess demand. This particular kind of self- interested behavior of buyers and...

Ngày tải lên: 02/07/2014, 21:20

... capital-using and labor- saving or capital-saving and labor-saving, and whether they be socially productive or counterproductive. Can we conclude anything definitive about the effect of any cost-reducing ... capital-using and labor-saving. And we know capitalists in industry 1 embraced it when the wage rate was 2 .37 5 (and the rate of profit was zero), but rejected it when the wag...

Ngày tải lên: 02/07/2014, 21:20

... of supply and demand which is the key to understanding how markets for particular goods and services work. The macro law of supply and demand is the key to understanding how much goods and services ... The old theory was relabeled “micro economics and preserved as the centerpiece of the traditional paradigm, and a new theory called macro economics was created to explain the...

Ngày tải lên: 02/07/2014, 21:20

... other. Suppose I come and sell my potatoes for money and then my six-year-old breaks his arm running around underneath the vegetable stands, I take him to the emergency room, and by the time we ... a theater, and say there are 100 people and you have the rush-to-the-exit problem. With derivatives, it’s as if without your knowing it, there are another 500 people in the theater, and...

Ngày tải lên: 02/07/2014, 21:20

... deposited by the seedy, and the bank would get ( 1 ⁄6)(500) = 83. 33C in profits. Each of the 100 seedy depositors gets ( 4 ⁄6)(5) = 3. 33C interest, consumes 1C, and accumulates 2 .33 C without working ... inequality remains 6 (although none of the seedy accumulate 3. 167C now, they all accumulate 2 .33 C, and the bank has profits of 83. 33 for zero work.) Lending with banks when a...

Ngày tải lên: 02/07/2014, 21:20

... resort to appearances and partial con- cessions. While progressives have every reason to validate people’s desires for economic justice and real participation, and work to expand partial concessions, ... Michael Albert and Robin Hahnel, Marxism and Socialist Theory, and Socialism Today and Tomorrow both published by South End Press in 1981. proportion to the degree they are af...

Ngày tải lên: 02/07/2014, 21:20