Marxism

What is value?

Economics needs a theory of value, but the existing theories are thoroughly inadequate. In this post I briefly introduce the key elements of an alternative theory.

We need to move on from existing theories of the economy

Neither the traditional economist’s focus on firms in markets nor the Marxist political economist’s focus on exploitation of wage labour by capital is a viable way of understanding the real economy. This posts proposes some steps towards an alternative view.

Profit and Gift in the Digital Economy: extract from chapter 10

This text, from the closing pages of the book, calls for a different kind of economy: an evolving diverse economy with more space for gift and alternative forms, and much less for the more oppressive forms of capitalism. If they are successful, books like this one form part of a spiral in which political arguments and political movements influence each other and develop iteratively.