Yo [he/him]

Don’t DM me, find me on Matrix (or XMPP) instead

Alts at:

  • 28 Posts
  • 221 Comments
Joined 3 years ago
Cake day: June 11th, 2023
  • Blastboom Strice@mander.xyzOPtoAnarchism@lemmy.dbzer0.com•An Anarchist FAQ Reading Group - Section C.1 - Week #10, Week #11, Week #12, Week #13English
    1·
    3 days ago

    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
    • 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)
    • 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
    • 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
  • Blastboom Strice@mander.xyzOPtoAnarchism@lemmy.dbzer0.com•An Anarchist FAQ Reading Group - Section C.1 - Week #10, Week #11, Week #12, Week #13English
    1·
    15 days ago

    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?” :))

  • Blastboom Strice@mander.xyztoAnarchism@lemmy.dbzer0.com•*Permanently Deleted*
    12·
    1 month ago

    Lol the dispossessed was one of my first intros to the anarchist world, was nice to see a somewhat realistic anarchist community in its early stages, even with its flaws.

    Funny how I initially found the plot of the book boring (which I still believe it is), but I guess the point is to focus on the world building and the contrast of the two worlds.

    Thanks to the guy who got me the book in a secret santa event cuz I had said that I like dystopian and fantasy books:)