When I say "we", I don't just mean we Marxists. I mean all economists. I suffer no dissonance at all between writing (more or less) conventional economics in my day job and being some kind of Marxist. The important distinction is not between heterodox and orthodox economics, but between good and bad economics - and Marx is often good economics, in the sense of fitting the facts.
[T]he superstition that the budget must be balanced at all times, once it is debunked, takes away one of the bulwarks that every society must have against expenditure out of control. . . . [O]ne of the functions of old-fashioned religion was to scare people by sometimes what might be regarded as myths into behaving in a way that long-run civilized life requires.
Sunday, March 15, 2015
Marx was (mostly) right
Economists! Be more Marxist:
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