Thoughts On Economics

General Equilibrium Theory (GET) is the most rigorous and most developed version of the theory of supply and demand. More than half a century ago, economists

Part of my program is to construct numeric examples of the reswitching of techniques and of other capital-theoretic 'paradoxes' in a

You can tell a history of the Union of Soviet Socialists Republics in which events are inconsistent with Marx's theory of history.

Marx, like Adam Smith and Walt Rostow, had a stages theory of history. Feudalism was succeeded by capitalism, and capitalism is to be succeeded by socialism. Socialism is to arise f...

I have been looking at Marx's notes to himself, late in life, on the calculus. Marx relied on an out-of-date textbook, J. L. Boucherlat's 1828 Elementary Treatise on the Differential and Integral Calculus, as well as other out-...