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 explaining capitalism’s development and why it lays the foundations of socialism through a historical materialist analysis.

This is not the approach I would take, but I understand why Wolff does it. With very limited time, it is difficult to really explain these things, and focusing on a simple aspect —…


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. Not exactly in the decentralized nature as cryptocurrencies like Bitcoin as it would still be backed by a central bank, it but it’d likely take on many concepts used in cryptocurrencies.

Fiat currencies will eventually embrace some sort of cryptographically secure digital form, and this is quite a natural progression in the development of money. …


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.

Money is more than just a piece of paper. On a deserted island, that paper would be useless. It has no intrinsic in and of itself, but its usefulness derives itself from complex social relationships between people. …


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.” That’s not to say there were not huge gains for workers, don’t get me wrong, but criticism of the inadequacies of workers’ democracy in these countries should be taken seriously and responded to honestly.

What I want to discuss is why. However, I’m probably going to approach this question from a…


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. Here, I will touch on centralization again, but also moneylessness, the state, and historical materialism.

Marx was not an anarchist in the slightest.

The goals of Marxists and anarchists are nearly polar opposites of one another. …


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 off, we likely will not have one reasonably priced for home consumption for a long time. This shouldn’t stop you from experimenting with them, because a very simple quantum computer can be easily simulated through classical code.

Now, when I say “simulate,” I do not mean the physics of a…


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. These resources are thus freed up and can be expended in other ways in the economy.

However, there is a hidden danger behind fiat money. Fiat money, through invisible strings, allows for wealth transfers from the entire population which uses that currency into the central coffers of the central bank. When the users of fiat currency becomes…


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 written by a communist. There is far more in common between Adam Smith’s analysis and Marxian economics than with Adam Smith’s analysis and modern day neoclassical economics.

Despite common misconception, the Labor Theory of Value did not originate with Karl Marx. …


“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? The question makes no sense, as there is no market. Value is a social function, it requires a society, and it differs from society to society.

“As the exchangeable values of commodities are only social functions of those things, and have nothing at all to do with the natural qualities…


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 take China and the Soviet Union, for example. Both countries faced economic problems in the late 1970s, and both took different paths. One opened up its markets to some degree, the opened it up to a very wide degree, implementing the “Washington Consensus.” …

太阳鱼

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

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