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Neoclassical economics focuses on the economic exchange process itself, driven by “sovereign” consumers and producers. There is a strong reliance on the market as self-equilibrating, and it is assumed that...
Introduction Marx’s speech on free trade was given before the Democratic Association of Brussels on January 9, 1848. It was published in French in Brussels, in early February 1848. The...
The following excerpt is Chapter 7 of Joseph Schumpeter’s book “Capitalism, Socialism, Democracy, originally written in 1942. It describes Capitalism as an evolutionary process, with continuous creative destruction of old...
These are selected passages from an essay on the “Sociology of Imperialism” (1919) written by Joseph Schumpeter (1883-1950). For a short time, he was the Finance Minister of Austria in...
21st Century Philosophy / Economics / Videos
by Jurgen Braungardt · Published April 11, 2017 · Last modified February 5, 2018
This is a short summary from “[easyazon_link identifier=”014028060X” locale=”US” tag=”mainacademicsite-20″]New Rules for the New Economy[/easyazon_link]”, originally written in 1998. Kevin Kelly is one of the co-founders of Wired Magazine, and...
The following description was written by Simon Webley, of the British-North American Research Association, who also worked on the text itself. INTRODUCTION A series of Interfaith consultations began in 1984 under the...
I am teaching a class on the philosophy of environmental science and policy, and the question that comes up again and again is how the earth will cope with the...
19th Century Philosophy / Economics / Political Theory
by Jurgen Braungardt · Published August 7, 2015 · Last modified November 19, 2016
The 1844 Economic and Philosophical Manuscripts remained unpublished during Marx’s lifetime and did not surface until 1927, about 44 years after his death. These manuscripts illustrate the young Marx’s transition from...
It seems to be fairly simple, but it raises many questions. To start with: Did Adam Smith describe a law of economics akin to a natural law, or is the...
The Social Responsibility of Business is to Increase its Profits Article by Milton Friedman (Quoted from: The New York Times Magazine, September 13, 1970.) When I hear businessmen speak eloquently about...
Why does the United States need urgent economic and political reform? An economic comparison between China, India, and the US reveals the stagnation of the US economy since 2000. The...
China is one of the most dynamic and interesting countries today; it’s emerging power will shape the 21st century. Here are some facts about the country that I find useful...
by Jurgen Braungardt · Published October 28, 2013 · Last modified May 20, 2018
Russia has an estimated population of 142 Million in mid-2013, with a slightly negative growth rate. It is geographically the largest country in the world, with 1.8 times the size...
by Jurgen · Published November 17, 2011 · Last modified September 14, 2018
The Fetishism of commodities is explained in Section 4. of Chapter 1 of Capital: A commodity appears, at first sight, a very trivial thing, and easily understood. Its analysis shows...
“The Transformation of Money into Capital” is a section in Karl Marx’ book Capital, 1867. It is Part II of Volume 1, and it explains how money gets created and transformed...
