Dissident economists fight to be heard

Jim Farmelant farmelantj at juno.com
Mon Jan 20 09:27:56 MST 2003

Here is Justin's original post on the subject:

> Marxism explains lots of stuff. So does classical
> econ.

What _does_ NCE explain? Enlighten me. After some
decades of study, I am not sure that it explains
_anything._ I don't deny that the law of supply and
demand is valid in a limityed sphere and that there
are invisible hand effects, but these propositions
were known to Smith and Ricardo, accepted by Marx, and
shared by Hayek (who is NOT an NCE). Basically NCE
dresses up some Smithian platitudes in math that is
impressive if you have a social science background,
but is not explanatory or informative, or even
interesting from a mathematical perspective. It's a
load of crap, not to put too fine a point on it.

 Btw, I think Fitch was talking about historical
materialism, not about Marxisn economics. That is. he
aws saying that the you can understand 90% of what
happens in the world (not just the economy) by looking
to the class positions and interests of the actors.
Unless you are Gary Becker, NCE has no such ambitions

On Mon, 20 Jan 2003 11:20:48 -0500 Les Schaffer <schaffer at optonline.net>
> Jim:
> > Well as Justin Schwartz put it on Henwood's list:
> not enough context here for me to understand the remark. can you
> expand?
> les

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