Should economists read Marx?
Should economists read Marx?
Karl Marx used the word 'depreciation' 35 times in the first two volumes of Das Kapital. Automobiles had not been invented. So where is the data on the annual depreciation of automobiles since Sputnik? Is that relevant to GDP? Did Keynes ever see a TV commercial for cars? Did his car depreciate?
Everyone should, but early Marx, because his ideas of alienation & reification are hardy perennials. Patrick Deneen reinvents both, blaming not just capitalism but also democracy & individualism. Knowing Marx helps in understanding such "thinkers."
Economists should play Sim City and Harvest Moon.
Possibly do Algebra.
This is my favorite Marx quote, written in 1861 while he was working as a journalist in London and covering the US Civil War:
It's the best reply to the Confederate statue supporters who claim we would also need to tear down the Founder's statues as well. Marx clarifies the difference.
But my history teacher looked me straight in the eyes and said that the Civil War was not about slavery. Of course I only got C's in history.
I think the Confederate statue supporters will only be emboldened by a negative quote from the OG commie Marx.
Not the quote itself, but the argument Marx makes, which is sound.