User:BernardL

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socialist economics, participatory economics,anarchist economics, Robin Hahnel, Pat Devine, Noam Chomsky, libertarian socialism, capitalism, Maurice Dobb.

  • articles to which I have made significant contributions:


Some Representative Contributions

1. Anarchist Economics

( nb: some of this content originates from a paper I wrote comparing Marginalist and Institutionalist approaches for my political economy class. Parts in brackets represent the contributions of other wikipedians, but are included for the sake of continuity and context.)

 Critique of Subjective Theories of Value

(Supporters of capitalism usually agree with what is called the Subjective Theory of Value (STV). The prevalent form of the (STV) which usually appears in economics textbooks is known as the marginal utility theory of value. In academia, this school supercedes the older classical economics of Adam Smith and David Ricardo.)

As with previous theories based upon a utility theory of value the marginalists maintained that commodities exchanged on the market were sources of utility for consumers. However the defining innovation of the marginalists was a rigorous abstract explanation of how market prices reflecting supply and demand were, in the last analysis, a net aggregrate expression of the economizing behaviour of the independent individuals who populated the market. The theory was anchored by the notion that, since utility satisfaction for a given commodity diminishes with each additional increment consumed, rational individuals balance their consumption choices so as to maximize total marginal utility for their given set of preferences. Market prices were the expression of this marginalizing rationality as it is constrained by the interacting competititve context of the market economy.

Anarchist economists join many other leftist economists, notably Marxists, neo-Ricardians, and critical institutionalists, in dissenting against mainstream economics which "far from being the 'science' it claims to be, instead serves as capitalism's ideology." (Dowd, Understanding Capitalism, 4) They have argued that marginal utility theories of value contain fundamentally incoherent views of human agency, institutions, valuation and allocation. Accordingly, they have argued that marginalism is reductionist in its illegitimate narrowing of economic behaviour to rational self-interest. Social anarchists point to the role of social institutions, including that of class and other forms of domination as important factors accounting for human agency. They have also pointed to the irrelevance of theoretical models based upon competitive equilibrium with regard to modern oligopolies that are sustained by a complex fabric of dominance in the form of economic, legal, political and cultural institutions. Additionally they maintain that a marginal utility of value leaves important aspects of economic life that enter into valuation out of the picture, such as the household and production relations, and draw attention to its failure to adequately account for dynamic processes related to long-term economic change. Underlying many of these sharp disagreements are qualitatively different approaches to the methodology of economic enquiry. Social anarchist economists vociferously reject the preliminary intellectual dispositions of marginalists towards economic enquiry including their methodological individualism, emphasis on mathematical and logical formalism, and what they regard as a hollow stance of value neutrality.

Random Brainstorming

  • Critics have maintained that there is an inherent tendency towards oligolopolistic structures when laissez-faire is combined with capitalist private property. Because of this tendency laissez-faire has drawn fire from critics that believe an essential aspect of economic freedom is the extension of the freedom to have meaningful decision-making control over productive resources to everyone. Economist Branko Horvat explains, "it is now well known that capitalist development leads to the concentration of capital, employment and power. It is somewhat less known that it leads to the almost complete destruction of economic freedom."[1]. W.F. Oakshott presents the following empirical evidence for changes in the structure of employment during the laissez-faire phase of capitalist development in England and Wales:

late 17th century:  % of employers:14

"""  % of employees:34

 % of independents:52

1921:  % of employers: 4

 % of employees: 90

 % of independents: 6[2]

Elsewhere in the world the results were the same but with slightly different time lag. Edwards, Reich and Weisskopf had very similar findings for U.S. development.[3]

Gilbert Achhar on Jewish refugees fleeing Naziism

"There is a famous allegory used by Isaac Deutscher about a house that is on fire and a person jumps from the window and falls by accident on a passerby, meaning the Jewish refugees fleeing Naziism were tragically and accidentally landing in Palestinian territory. But the analogy is not completely accurate, because it wasn't just an unfortunate coincidence; European Jews were channelled toward Israel despite the will of their overwhelming majority. The majority did not want to go to a land they imagined to be like a desert with camels; the promised land of their dreams was not Palestine. It was North America. The same goes for the recent wave of Russian immigration to Israel; the Begin government arranged with Moscow that Jewish emigrants would be given only one choice of destination- that is, Israel through Austria." (185, Perilous Power, The Middle East and U.S. Foreign Policy, Noam Chomsky and Gilbert Acchar, interviewed by Stephen Shalom)

Gilbert Acchar is Professor of Politics and International Relations at the University of Paris.BernardL 22:40, 7 January 2007 (UTC)

Yet more morally depraved and slanderous accusations of anti-semitism by reactionaries

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