Sometimes it takes a theoretical opponent to keep the record straight…

leftypol

I kind of like this exchange, where anon accused me of arguing that full communism is possible long before it was demonstrated by the sudden shutdown to contain the pandemic. Continue reading “Sometimes it takes a theoretical opponent to keep the record straight…”

More on how Moseley’s MELT blew it on stagflation

In the last post I made a preposterous claim that Fred Moseley could have explained the post-1971 economic malady of stagflation, instead of wasting his time trying to prove that inconvertible currency can fulfill the function assigned by Marx’s Labor Theory of Value to commodity money in the circulation of commodities.

Let me extend that discussion.

Continue reading “More on how Moseley’s MELT blew it on stagflation”