Surprisingly, PhD Marxian economist Richard Wolff agreed to debate a YouTuber known for playing video games. A very strange event, but I decided to give it a watch.

Wolff tends to focus more on the “democracy in the workplace” ordeal, and less about trying to build up a picture of…


Cryptocurrencies generally are not even a form of money but just a general financial asset. I discuss this a bit in this post. However, I do think fiat money will eventually take on some “crypto” form, some digital form backed by cryptography. …


Bitcoins are not money. They are similar to a gold coin or real estate, or any sort of financial asset that you could use as a middle-man between a transaction. They are something you can invest into, buy and sell as middle-man between transactions, but that doesn’t make them money.


Often I am asked, “why did Marxism-Leninism fail to bring the workers’ paradise into existence?” Sometimes people respond to this by pointing to the democratic benefits Marxist-Leninist countries have provided. However, we would be fooling ourselves to pretend any Marxist-Leninist country created anything coming close to a “workers’ paradise.” …


I have seen even more recently the absurd claim that Marx was apparently “basically an anarchist”. I feel the need to write another post refuting this idea. My last post only addressed the idea of centralization. …


Note: This is quite lengthy and I have not put in much effort to double-check everything, so there may be some minor errors throughout.

Introduction

Quantum computers have very different behavior from classical computers allowing them to have significantly better performance on certain algorithms. However, quantum computers are still quite far…


The rise of fiat money has had some benefits. Largely, it frees up the government from needing to stockpile gold. When the demand for money expands, it also prevents it from having to acquire more gold in order to expand the money supply. …


Adam Smith was no socialist. In fact, he has often been described as “the father of capitalism.” Yet, despite this, if one were to read Adam Smith’s The Wealth of Nations these days without being told who wrote it, one might be inclined to believe it was an economic text…


“If someone bakes a mud pie, it must have value.”

Value is not simply labor time, but socially necessary labor time. Value is a social construct related to but not the same as market price. The market price of a hamburger differs in the US and in China. What is the market price of a hamburger on a deserted island…


Free market absolutism is the idea that markets are inherently rational and inherently create growth in all circumstances. These people, therefore, conclude that any slowdown in economic growth must be due to some government intervention somewhere. All improvements in economic growth must have occurred from increased free markets.

Let us…

太阳鱼

I have a Bachelor of Science in Computer Science. Coding and Marxian economics interests me. I write code for a living.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store