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Thoughts On Economics

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Title of Thoughts On Economics: "Thoughts On Economics"

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John Stuart Mill Further Demonstrates The Marx Follows From Ricardo

I want to here consider further evidence that Ricardo's views lead to something like Marx's theory of surplus value. My argument is that John Stuart Mill read Ricardo in a way that supports this thesis. And that he correctly had Ricardo's value as an absolute value. In particular, he had Ricardo's labor value to be much like Marx’s. (I do not want to argue that


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Elsewhere

Sraffa's Reswitching Silliness: Uncomprehending ignorance. The New School, in Manhattan, is one of the few places in the United States that teaches political economy in a rigorous way.


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Rent With Multiple Agricultural Commodities

1.0 Introduction

My next problem might be to explore how to apply an analysis of the orders of efficiency and rentability to a model of rent with multiple agricultural commodities. I would like the possibility of both extensive and intensive rent. This post outlines the structure of a simople numeric example. I have not written down the price systems for each techniqu...


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John Stuart Mill Explains Profits As The Result Of The Exploitation Of Labor

I find this passage based on guidance from Samuel Hollander:

"The cause of profit is, that labour produces more than is required for its support. The reason why agricultural capital yields a profit, is because human beings can grow more food, than is necessary to feed them while it is being grown, including the time occupied in constructing the tools, and making all ot...


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Existence Of A Cost-Minimizing Solution In A Model With Extensive And Intensive Rent

1.0 Introduction

This post presents a special case model combining extensive and intensive rent. No joint production, other than that associated with land, exists in the model. Only one agricultural commodity, 'corn', is produced. Each corn-producing process operates on one type of land. No possibility exists of simultaneously using two or more unproduced natural reso...


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