Skip to main content


Showing posts from March, 2017

Videos of Dierdre McCloskey

Deirdre McCloskey is currently my favorite economist.

McCloskey sums up the message of the first few chapters of her book Bourgeois Equality - our lives have been transformed for the better by modern economic growth;

Going in to some depth about why that explosive economic growth actually happened;

Interviewed by Dave Rubin;

A fancy debate;

Another fancy debate, this time for IQ Squared;

The Labor Theory of Value according to some YouTube videos...

The labor theory theory employed by many anti-capitalists generally hinges on the Marxian unit of account called socially necessary abstract labor time - where abstract means average - because fuck Capital Volume Three's even worse quagmire of prices of production.

This is fun and short;

The following video deals with the Marxist rebuttal to the, admittedly half-baked, mud pie criticism. He points out here that it is only after a good is sold that one can begin looking back through time to try to figure out how many labor-points went in to it;

This one's more lighthearted. Two t-shirts employ the same SNALT as each other but seel for different prices. One features Che Guevara, the other Milton Friedman. Different strokes - and therefore different prices - for different folks;

Aaaaaand a more technical exposition of marginalism;