History, Evolution, and The Darwin Debate

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Up to page nine in Krugman/Wells’ Economics….marginal propensities to capitalist profit…’N’est pas monsieur Walras?’

December 11th, 2015 · No Comments


” ‘How Much’ is a Decision at the margins…”:

Decisions of this type–what to do with you next hour, what to do with your next dollar…are marginal decisions…many of the questions in economics involve marginal decisions…marginal analysis plays a central role in economics because it is the key to deciding ‘how much’ of an activity to do…

I am up to page nine in Krugman/Wells’ text in Economics. It is actually an engaging book. It has a spiel on ‘marginalist thinking’ on page 8/9, a snippet above…

I suddenly see how the left could use their own marginal analysis to critique capitalism via a marginal analysis of the reciprocity of capitalism and socialism, easily numerized via the marginal analysis of profit at the threshold of climate change. The markets/no markets duality could thus be annexed into the same analysis as the purely market brand….

In intuitive terms we are close to needing to decide ‘how much (more)’ of the profit regime we can indulge relative to the non-profit socialist alternative.

‘N’est pas monsieur Walras?’

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