A Short Piece on The Tendency of the Rate of Profit to Fall

The tendency of the rate of profit to fall is a commonly cited argument to why capitalism is apparently doomed to fail. Usually Marxists end up referencing graphs like this: The argument goes that profits are constantly falling and companies keep expanding, yet this obviously isn't sustainable. However, there are many rightful criticisms to his …

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The Failure of Old Economics (pt. 1)

In 1959, Henry Hazlitt wrote a book titled The Failure of New Economics as a critique of John Maynard Keynes's landmark work The General Theory of Employment, Interest, and Money. While I believe his criticisms are flawed (I've addressed Hazlitt before, like in my Austro-Punk article), I decided to take up a little parody of …

Post-Keynesians: Theory, Praxis, and Paradoxes

In today's world, there isn't such thing as just a "Keynesian" anymore, as the actual economic school of thought has now split apart into two individual ones, New Keynesians and Post-Keynesians. While the former is mainstream and commonly accepted today, the Post-Keynesians are heterodox, yet they claim to be more "Keynesian" than any other ideology. …