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Questions tagged [philosophy-of-economics]

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Are there objective-criteria for criticizing people's “market behavior”?

Are there objective-criteria for criticizing people's "market behavior"? That is, is there a set of criteria that one can objectively refer to as measuring, whether the "contribution" of a member is ...
3
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4answers
123 views

Multidimensional value money

When I was a kid, I had a feeling that money was not that important, but the majority of people around me kept saying the opposite. So I thought that I just did not understand them. Now that I have ...
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0answers
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Is there a humanity evolving objective? [closed]

Objectives never happens, but [I think] that is expected. Does the UN, US, EU, CN, IN... have objectives for +5, +10... +100 years? What/Where is the objective? Is the UN or any National ...
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2answers
92 views

How can laissez-faire capitalism not turn to corporatocracy?

An idea of corporatocracy (pretty dystopian) exists in some movies and videogames. Typically huge corporations ar epresented as having own armies and those armies can force citizens do their work. We ...
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1answer
65 views

Authors on the Business of Philosophy and the Philosopher's ego

In a capitalistic society every human experience is susceptible of becoming a business, eg. the business of beauty, sex, art, justice, health, education, journalism, emotions and psychology, ...
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1answer
51 views

Is the notion of a meritocracy inherently unethical and/or paradoxical?

Wikipedia says, Meritocracy (merit, from Latin mereō, and -cracy, from Ancient Greek κράτος kratos "strength, power") is a political philosophy which holds that certain things, such as economic ...
2
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1answer
52 views

For those who have read-and understood- “Living Currency” by Pierre Klossowski

The essay/book contains the following paragraph: "The manufactured object, as opposed to (natural) useful goods, though it may still hold some habitual meaning (for instance depending on how metals ...
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1answer
47 views

It is posible a Resourced Based Economy? [closed]

When I refer to a resource-based economy, I refer to the proposal of the groups of The Zeitgeist Movement and The Venus Project https://www.thevenusproject.com/resource-based-economy/
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4answers
337 views

Scenario in which society is better off by someone breaking a rule?

Suppose there is some rule in some social setting/scenario where society (or a relevant smaller set of people) is/are better off when some people violate it. Specifically, we have that (where '>' ...
1
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1answer
111 views

What did Karl Marx mean by “revolutionary combination due to association”?

In "The Communist Manifesto", it is said that: "The advance of industry, whose involuntary promoter is the bourgeoisie, replaces the isolation of the laborers, due to competition, by the ...
2
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4answers
803 views

What's the purpose of economics / How is economics useful to humans? [closed]

What is the purpose of economics? By purpose I mean having a purpose in a similar sense that eating and producing food has a purpose for survival. What does economics produce? How does it help ...
2
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6answers
527 views

What is Money, (not money)?

Money plays a major role in our experience and I find that very few people explore the idea of what it is. This question concerns Form. Money is any item or verifiable record that is generally ...
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6answers
324 views

Will automation emancipate us from labour?

In the The Human Condition, Arendt writes: The danger that the modern age's emancipation of labour will not only fail to usher in an age of freedom for all but will result, on the contrary, in ...
3
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1answer
111 views

Where does Adorno find this quote of Marx?

In Negative Dialectics, Adorno quotes Marx as saying: even if a society has found a natural law of motion - and the present works ultimate goal is to unveil the law of modern society economic ...
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2answers
82 views

Marxism and Capitalism as a Schism

Is it possible to see Marxism and Capitalism as a kind of ideological schism, in the same way, say we have a schism between Protestatism & Catholicism in Christianity, and between Sunni & ...
3
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2answers
428 views

Does capitalism have an end goal?

Occasionally I find that things such as "incentives" in a capitalist economy are as if they would be directed to a certain outcome or certain outcomes. E.g. that profit incentives matter only in so ...
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2answers
230 views

What are Marx's ideas on the fetishization of commodities?

What are Marx's ideas on the fetishization of commodity? Specifically, I am interested in use value and exchange value; how does the commodity own its exchange value?
3
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1answer
185 views

Doctrine of sufficiency from On Equality by Harry Frankfurt [closed]

I am interested in learning of the doctrine of sufficiency of Harry Frankfrut. Where may I find reference about how Frankfurt describes his doctrine of sufficiency?
4
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3answers
123 views

Adam Smith: If humans are self-interested individuals, why should we reinvest our wealth?

According to Adam Smith, humans are self-interested individuals. If this is true, why does he argue that people should reinvest their wealth? How does this benefit a self-interested individual? Does ...
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4answers
95 views

What should the value of a private sector company tell us?

This question bridges both philosophy and economics. Please see original question on the economics website, it includes extra comments and discussion. Looking for critique and reading suggestions: ...
2
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2answers
183 views

The Fetishism To Commodities “In History” — When did it really happen?

I restarted reading the non-main stream economics' groups, that is to say, as you may well easily guess Marxian stream. Since the age of 20, when I read their works, the focal point has not changed ...
8
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5answers
682 views

What are some good books on the philosophy of economics?

I'm a college student of physics, and I'm looking to expand my horizon in the field of philosophy of economics, so, what books would you recommend for newbies like me? I was thinking in history of ...
2
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3answers
158 views

The circulation of goods

In the body there is the circulation of blood, it goes in one direction only. Now consider the circulation of goods in a barter economy; goods move by exchange. Hence we can identify always two ...
2
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3answers
285 views

What is Capital?

One hears a great deal about Capitalisms and anti-capitalisms; but what do these terms actually mean? Have these terms been so used and abused that they now mean very little? Can I just think of ...
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4answers
593 views

Philosophical critiques of neoclassical economics?

Background Information In his article on Neoclassical economics in The Library of Economics and Liberty, E.Weintraub articulates the following: Neoclassical economics rests on three assumptions, ...
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2answers
244 views

Was the Communist Manifesto actually representative of Marx's ideology?

The Communist Manifesto (TCM, from here on) has become the most well-known work by Karl Marx - even more so than Kapital. However, I'm wondering if it is it correct to call the points laid out by the ...
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1answer
63 views

Fungible Money Question

Suppose that there are two people, A and B. Each has a physical dollar bill. Each donates the dollar bill to an organization. The organization buys something for a dollar. First suppose that the ...
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2answers
187 views

Is the gender divide a class divide?

Simone Weil wrote in Gravity & Grace: Up to now, history has only shown us societies divided up into classes, except for altogether primitive societies in which no differentiation has yet ...
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1answer
1k views

Philosophy of Chankya/Kautilya [closed]

I have heard and also read a little that in 500 B.C. an Indian genius Chankya, caused the fall of Magdha empire, and made a street guy The king named Chandragupta. He was an exceptional strategist and ...
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8answers
1k views

Is it immoral to buy / own / sell stock in an evil company?

Scenario. I have decided that I should not buy widgets from Company X because I do not want to support various immoral things Company X does to produce said widgets. Claim. It is nonetheless morally ...
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3answers
145 views

Why does the concept of the division of labour put forth by Adam Smith continue to be analytically significant?

Is it because the modernity is defined through the extent of division of labour? Also, how tightly has this concept integrated with our current society and how is it affecting it? What measures can be ...
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3answers
96 views

The culture industry and division of labour

The division of labour is the specialisation of cooperating individuals who perform specific tasks and roles. It is thought of as perhaps supremely alienating by Marxists, though I never found out ...
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1answer
134 views

Do we have an obligation to respect our teachers? [closed]

Many philosophers teach us to respect those who are teaching us. For example, one of the five classics of the Confucian canon [The Classic of Rites - Liji] claims in "Record of Education" that: ...
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5answers
3k views

Who owns the means of production?

Labour is Marxs term for those who do not own the means of production and thus rely on their own labour - ie they are wage earners. What is his term for those who do own the means of production? Its ...
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5answers
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What is an example of human labour being the exclusive source of surplus value

Marx's labour theory seems to define surplus value as being produced exclusively from human labour. One discussion of this concept stated: Machinery, and tools of production do not create surplus ...
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3answers
3k views

How does Marxist Economics account for taxation?

In Marxs theory of Capital, he suggests that the origin of profit (in a factory) is surplus labour. (A factory may as well be a company, a record label or a health-care unit). The government by ...
4
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1answer
58 views

The future of my philosophical understanding and methods for getting there

I am trying to go through a semi-rigorous self-teaching regimen, and I was wondering if I could get some criticism on my approach. I'm interested in philosophy of economics, social philosophy, and ...
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2answers
198 views

Mass surveillance and the concealed subject of power

In Spivaks essay, can the Subaltern speak, she states that: [the] contemporary invocations of the libidinal economy and desire as the determining interest, combined with practical politics of the ...
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3answers
112 views

Economics, State and Violence

I think it was the continental sociologist Weber who defined a State as that organ of a nation that has a monopoly of violence. Economics, at least what minute fraction I know, appears to ignore ...
5
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1answer
106 views

The mass surveillance of price and the invisible hand?

In Hayeks Road to Serfdom, he distinguishes between central planning & decentralised planning. And states that decentralised planning makes the most sense, since the available information is too ...
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8answers
965 views

Why are Objectivists against Socialism?

From what I understand, Objectivism advocates rational selfishness - to put yourself before the masses, unless you don't want to - essentially to do what you want instead of blind altruism. In the ...
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2answers
91 views

Does Risk Aversion cause Diminishing Marginal Utility, or vice versa?

Let A be the set of possible states of the world, or possible preferences a person could have. Let G(A) be the set of "gambles" or "lotteries", i.e. the set of probability distributions over A. Then ...
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1answer
391 views

Was Ayn Rand affected by Italian Futurism?

Italian Futurism was an art movement in early 20th century Italy which celebrated youth, violence & technology: Marinetti expressed a passionate loathing of everything old, especially political ...
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6answers
1k views

Whats the difference between fixed and constant capital?

Rosa Luxembourg in The Accumulation of Capital describes & investigates the constant and fixed capital of Marx & Smith respectively. With Marx, she says Constant capital is the value ...
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5answers
191 views

Does this count as a critique of Marxs Labour theory of value?

Marxs theory of value uses the input of Labour as determinining Production Value. But what if we can do away with Labour? For example, consider a perfectly automated factory producing mugs. This ...
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2answers
153 views

Are methodological individualism and materialism compatible?

One of the fundamental principles of the Austrian school of economics, particularly the kind promoted by Ludwig von Mises and Murray Rothbard, is methodological individualism, according to which the ...
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2answers
264 views

What arguments have there been on the relative merits of praxeology vs rationality?

Suppose you know what someone's goals are, and how much they value each of their goals. Then if you observe their behavior in a given situation, how can you understand why they acted the way they did?...
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1answer
131 views

What's Good for the Goose is Almost Never Good for the Gander

It's often said that "what's good for the goose is good for the gander," meaning that if something is good for or benefits one person, it is likely to benefit the group of which they are a part. I'm ...
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What responses have there been to Mises' theory of praxeology?

In his treatise Human Action, Austrian School economist Ludwig von Mises attempts to establish economics not as an empirical science, or a mathematical theory, but as a synthetic a priori endeavor he ...
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1answer
127 views

Is there an economic philosophy that is dualistic?

In classical economics its obvious that the philosophical model followed is inspired by both physics in its reductionism and biology to a primary notion - that of self-interest. This self-interest ...