Hacker News new | ask | show | jobs
by avidphantasm 1348 days ago
I would argue that Marx’s process-based description of the dynamics of Capitalism have proven to be much more valid (e.g., coercive law of competition, declining rate of profit) than those of neoliberal economics. Are either a science? No. They are schools of thought within political economy. Are they useful? Well, I’ve just stated my opinion above. YMMV.
1 comments

>I would argue that Marx’s process-based description of the dynamics of Capitalism have proven to be much more valid

Declining rate of profit seems to be another one of Marx's ghosts if you ask me, we sure aint seeing it under covid with these record profits.