History, Evolution, and The Darwin Debate

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The market myth and the calculation debate

January 12th, 2018 · No Comments

getting free of the market myth…// From Marx to Mises: Post Capitalist Society and the Challenge of Economic Calculation eBook: David Ramsay Steele: Kindle Store

If the question of theory has gone critical for marxists, it has also done so neo-classical economics save they haven’t quite realized it. There are no scientific theories of economic systems using the kind of calculus junk current in the equilibrium mythologies.

And game theory is still another distracting ‘very smart’ illusion. But marxists are incapable of dealing with any of this, in part because they think they have a better theory. They have an incisive critique of capitalism but not alternate theory.
Marxists should drop Capital’s theories so they can look objectively at the immense sophistries of conventional economics. Trying to defend Marx’s theories as superior has totally confused the issue. You can certainly cite marxist ideas as operational hypotheses or recipes of praxis but at this point the left has to get smart about economic theories. Unfortunately that is a difficult thing to do. This book on Marx to Mises is a useful demo of the way a leftist got lost in the Misean counterattack and the so-called calculation debate. It took me a long time to get free of Misean sophistry and the whole hype of the debate, while cogent enough, never really made its case. We can resolve the issue much better in our DMNC by simply bypassing the issue of economic calculation: we adopt a hybrid of markets, planned sectors (and an additional autonomous sector). We have to experiment to find systems that are functional and that operate under the axioms of communism. The idea that free markets are the only candidates for a viable economy is the most ridiculous idea now given its demonstration of near planetary destruction. A direct contradiction can be seen in the confusion over regulation: the process of regulation was always present, hence truly free markets have never existed. But now a species of Any Rand lunatics wish to abolish regulation to create truly free markets. One result will be, or is, beside the destruction of the Amazon basin, the repeal of laws against lead in drinking water, and multiple other absurdities.

Source: Amazon.com: From Marx to Mises: Post Capitalist Society and the Challenge of Ecomic Calculation eBook: David Ramsay Steele: Kindle Store

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