Hey y’all! Here we are reading and discussing Sections C.1-C.1.1 of AFAQ this week! We still take it slow, so we might do C.1 (and C in general) in a slower pace until we start to catch up again.
Edit: Here we are reading and discussing Section C.1 of AFAQ the following 4(!) weeks! We are taking it slow until we start to catch up again. I will update the title each week and I will re-ping you here each week.
Happy reading!
- Section C.1: https://anarchistfaq.org/afaq/sectionC.html#secc1
There is also an EPUB version of AFAQ, courtesy of @[email protected]: here
If you’d like to join, please comment and we’ll ping you next post.
Link to last week’s read: https://lemmy.dbzer0.com/post/55295947
PS. Feedback request: How did you find last week’s reading pace? Fast/Slow/OK/etc.?
So, I was having some trouble with definitions, so I made an entry in my notes (hope all these terms don’t hurt eyes):
Definitions of capitalist economics terms
- Downward sloping demand curve:
- As the price increases, quantity demanded decreases
- X axis: Quantity demanded
- Y axis: Price of product
- Price elasticity of demand of a product:
- A measure of how sensitive the quantity demanded is to its price
- Higher elasticity means higher sensitivity
- A measure of how sensitive the quantity demanded is to its price
- Rising supply curve:
- As the price of a commodity increases, the quantity supplied will increase
- X axis: Quantity demanded
- Y axis: Price of product
- General equilibrium theory:
- Seeks to prove that the interaction of demand and supply will result in an overall general equilibrium:
- A market in which the quantity supplied for every product or service, including labor, equals the quantity demanded at the current price
- Junction points of demand and supply curves (they are supposed to be sloping inversly)
- Seeks to prove that the interaction of demand and supply will result in an overall general equilibrium:
- Perfect competition:
- The ideal conditions (in theoretical models) of perfect competition, under which a market will reach a general equilibrium
- Horizontal demand curve:
- A change in price leads to a significant shift in demand
- Huge increase in quantity of demand with virtually no drop in price
- Means demand curve is perfectly elastic
- A change in price leads to a significant shift in demand
- Rational expectations theory:
- Seeks to infer the macroeconomic consequences of individuals’ decisions based on all available knowledge
- It assumes that individuals’ actions are based on the best available economic theory and information
- Downward sloping demand curve:
Pings of Week #11:
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whoa, that’s a lot of people!
Pings:
@[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected]
Pings of Week #13:
@[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected]
Pings of Week #12:
@[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected] @[email protected]
What do you think? Should we maybe do a pause with these posts until we catch up? Should I just make posts without new parts to read? Should we just continue going slowly? I’m in B.2.3 I think…
I think that’s a good idea
Yeah, eventually, I’ll just reping you weekly in this post for a few weeks and not move any further
The link still points to section B
I believe its supposed to point here: https://anarchistfaq.org/afaq/sectionC.html#secc1
Ohh you’re correct! Thanks for pointing that out:)) I will fix it:)
Yay, I finished B.3:)
Edit: wrong post
Finally finished that very boring section! Haha, phew…
I’d like to see some graphs at least and maybe some extra explanations for various economic terms and phenomena, cuz I’m not that knowledgable in these.
Umm near the beginning it says:
Instead it is, to a large degree, deeply ideological and its conclusions almost always (by a strange co-incidence) what the wealthy, landlords, bosses and managers of capital want to hear. The words of Kropotkin still ring true today:
This is the key problem with economics: it is not a science. It is not independent of the class nature of society, either in the theoretical models it builds or in the questions it raises and tries to answer. This is due, in part, to the pressures of the market, in part due to the assumptions and methodology of the dominant forms of economics. It is a mishmash of ideology and genuine science, with the former (unfortunately) being the bulk of it.
When it says that it is not a science, does it refer to neoclassical economics (or capitalist economics in general)? Because I feel like in the whole section it criticizes neoclassical economics.
EDIT: OK, after some talking in the matrix space I concluded that it refers about capitalist economics and in some parts it refers to neoclassical capitalist ecnomics in particular. After all, the title of the section C is “What are the myths of capitalist economics?” :))
