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Not to mention that Piketty has a relatively soft list of proposals and research compared to the 'old guard' of critics of capital. The Economist's arguments ag

Not to mention that Piketty has a relatively soft list of proposals and research compared to the 'old guard' of critics of capital. The Economist's arguments against Piketty are only there because he's the most radical economist on capital's horizon. By presenting Piketty as radical on the issue of inequality, the arguments from modern, radical economists on every other aspect of capital are shut out. For example, beyond Piketty we have John Roemer, beyond Roemer we have Veneziani & Yoshihara, beyond them we have Fred Moseley, Andrew Kliman, Sekine, Itoh... In other words, Piketty gets so much criticism because he's the least radical of a bunch of radical economists, and because of that, he hasn't left capital's horizon.

romey 7y ago
Would you happen to have some suggestions on where to start further reading of radical economics? I'm halfway through "Doughnut Economics" right now, but it's a bit simple -- I was looking for something more challenging.
- claudiawerner 7y ago
  J.E. Roemer's classic 1982 book[0] on exploitation from a game-theoretic standpoint is generally the beginning of the post-Marxian era of radical economics. However, his is not the only approach, now there are theories which attempt to reformulate the Marxist concept into a theory of unequal exchange of labour. Roberto Veneziani[1] has a great many papers on this theory of exploitation, expressed mathematically, in particular, two principles: profit-exploitation correspondance principle, and the class-exploitation correspondance principle. Andrew Kliman[2] and Fred Moseley[3] are two economists with very contrasting approaches to Marx's labour theory of value and its application today, as well as other "problems" in Marx (such as the transformation problem). Moseley also criticizes some of Piketty's methods[4]. Kliman and Patrick Murray agree that, providing the labour theory of value is true, then we can deduce Marxian exploitation - however their approach is less economic and more philosophical. This is because Murray objects to the use of neoclassical models and methods, with good reason[5]. Vrousalis[6] takes a non-Marxian approach to dominatiton and exploitation under capitalism. For the latest stuff in the field, check out the main journals[7][8] and Brill's Historical Materialism book series, and this one[9] in particular. [0] https://www.hup.harvard.edu/catalog.php?isbn=9780674435865 https://www.hup.harvard.edu/catalog.php?isbn=9780674435865 [1] https://academic.oup.com/cje/article-abstract/41/6/1607/4598293 https://academic.oup.com/cje/article-abstract/41/6/1607/4598... [2] http://digamo.free.fr/kliman2007.pdf http://digamo.free.fr/kliman2007.pdf [3] https://www.mtholyoke.edu/~fmoseley/Working_Papers_PDF/macro-monetary.pdf https://www.mtholyoke.edu/~fmoseley/Working_Papers_PDF/macro... [4] https://www.tandfonline.com/doi/abs/10.1080/08911916.2015.1060828 https://www.tandfonline.com/doi/abs/10.1080/08911916.2015.10... [5] https://www.cpp.edu/~jet/Documents/JET/Jet15/Schuler19-28.pdf https://www.cpp.edu/~jet/Documents/JET/Jet15/Schuler19-28.pd... [6] https://www.tandfonline.com/doi/full/10.1080/00346764.2019.1618483 https://www.tandfonline.com/doi/full/10.1080/00346764.2019.1... [7] https://journals.sagepub.com/home/rrp https://journals.sagepub.com/home/rrp [8] https://www.jstor.org/journal/worlrevipoliecon?refreqid=excelsior%3A99d15f979bdf664a3ab74e2ccf061f6c https://www.jstor.org/journal/worlrevipoliecon?refreqid=exce... [9] https://brill.com/view/title/35142 https://brill.com/view/title/35142

romey 7y ago

Would you happen to have some suggestions on where to start further reading of radical economics? I'm halfway through "Doughnut Economics" right now, but it's a bit simple -- I was looking for something more challenging.

claudiawerner 7y ago
J.E. Roemer's classic 1982 book[0] on exploitation from a game-theoretic standpoint is generally the beginning of the post-Marxian era of radical economics. However, his is not the only approach, now there are theories which attempt to reformulate the Marxist concept into a theory of unequal exchange of labour. Roberto Veneziani[1] has a great many papers on this theory of exploitation, expressed mathematically, in particular, two principles: profit-exploitation correspondance principle, and the class-exploitation correspondance principle. Andrew Kliman[2] and Fred Moseley[3] are two economists with very contrasting approaches to Marx's labour theory of value and its application today, as well as other "problems" in Marx (such as the transformation problem). Moseley also criticizes some of Piketty's methods[4]. Kliman and Patrick Murray agree that, providing the labour theory of value is true, then we can deduce Marxian exploitation - however their approach is less economic and more philosophical. This is because Murray objects to the use of neoclassical models and methods, with good reason[5]. Vrousalis[6] takes a non-Marxian approach to dominatiton and exploitation under capitalism. For the latest stuff in the field, check out the main journals[7][8] and Brill's Historical Materialism book series, and this one[9] in particular. [0] https://www.hup.harvard.edu/catalog.php?isbn=9780674435865 https://www.hup.harvard.edu/catalog.php?isbn=9780674435865 [1] https://academic.oup.com/cje/article-abstract/41/6/1607/4598293 https://academic.oup.com/cje/article-abstract/41/6/1607/4598... [2] http://digamo.free.fr/kliman2007.pdf http://digamo.free.fr/kliman2007.pdf [3] https://www.mtholyoke.edu/~fmoseley/Working_Papers_PDF/macro-monetary.pdf https://www.mtholyoke.edu/~fmoseley/Working_Papers_PDF/macro... [4] https://www.tandfonline.com/doi/abs/10.1080/08911916.2015.1060828 https://www.tandfonline.com/doi/abs/10.1080/08911916.2015.10... [5] https://www.cpp.edu/~jet/Documents/JET/Jet15/Schuler19-28.pdf https://www.cpp.edu/~jet/Documents/JET/Jet15/Schuler19-28.pd... [6] https://www.tandfonline.com/doi/full/10.1080/00346764.2019.1618483 https://www.tandfonline.com/doi/full/10.1080/00346764.2019.1... [7] https://journals.sagepub.com/home/rrp https://journals.sagepub.com/home/rrp [8] https://www.jstor.org/journal/worlrevipoliecon?refreqid=excelsior%3A99d15f979bdf664a3ab74e2ccf061f6c https://www.jstor.org/journal/worlrevipoliecon?refreqid=exce... [9] https://brill.com/view/title/35142 https://brill.com/view/title/35142