Welcome to Bookmarker!

This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading. Currently can only be used by a single user (myself), but I plan to extend it to support multiple users eventually.

Source code on GitHub (MIT license).

(noun) a member of a school of political economists founded in 18th century France and characterized chiefly by a belief that government policy should not interfere with the operation of natural economic laws and that land is the source of all wealth

18

Smith was both extending and breaking with the analysis of the Physiocrats, political economists of eighteenth-century France who believed that the natural productivity of the land, set in motion by agriculture, was the origin of all wealth. For them, surplus value--the "additional" value produced between input and output in a production process--was possible only as a gift from nature. Their policy conclusion was logical if agriculture was the source of the surplus upon which the state and all society depended, then anything that hindered it (taxes, trade restrictions, etc.) was bad.

—p.18 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

Smith was both extending and breaking with the analysis of the Physiocrats, political economists of eighteenth-century France who believed that the natural productivity of the land, set in motion by agriculture, was the origin of all wealth. For them, surplus value--the "additional" value produced between input and output in a production process--was possible only as a gift from nature. Their policy conclusion was logical if agriculture was the source of the surplus upon which the state and all society depended, then anything that hindered it (taxes, trade restrictions, etc.) was bad.

—p.18 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

a mainstream approach to economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand; contrast with heterodox economics

23

The term "neoclassical" with respect to economics was coined in 1900 by the American economist Thorstein Veblen, the same person who first discussed "conspicuous consumption".

—p.23 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

The term "neoclassical" with respect to economics was coined in 1900 by the American economist Thorstein Veblen, the same person who first discussed "conspicuous consumption".

—p.23 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

the doctrine in neoclassical economics that markets will function perfectly in the absence of interference

34

In fact, the well-known neoclassical doctrine that "without interference" markets will function perfectly (or "clear") is also known as "demand theory".

—p.34 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

In fact, the well-known neoclassical doctrine that "without interference" markets will function perfectly (or "clear") is also known as "demand theory".

—p.34 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

named after William Stanley Jevons, though referring to a shift in economic thought to which many contributed; switch from a focus to class-based analysis to using individual consumers as the basis

35

The Jevonian revolution definitively ended the hold of "who gets what," class-based analysis in orthodox economics, and instead consecrated the individual "consumer" as the unit of analysis.

—p.35 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

The Jevonian revolution definitively ended the hold of "who gets what," class-based analysis in orthodox economics, and instead consecrated the individual "consumer" as the unit of analysis.

—p.35 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

referring to the theories of 19th-century Swiss economist Leon Walras (that relative prices can find a system-wide or general equilibrium)

38

The idea that those relative prices can find a system-wide equilibrium is the heart of the neoclassical theory of value, a theory often called "Walrasian"

footnote 14

—p.38 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

The idea that those relative prices can find a system-wide equilibrium is the heart of the neoclassical theory of value, a theory often called "Walrasian"

footnote 14

—p.38 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

propensity to hold assets in liquid form (defined by Keynes in The General Theory of Employment, Interest and Money)

42

Keynes called this propensity to hold assets in money form "liquidity preference," "liquidity" being the ease with which an asset can be readily monetized, i.e., exchanged for money. So if "liquidity preference" is high, it suggests people feel insecure or uncertain

—p.42 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

Keynes called this propensity to hold assets in money form "liquidity preference," "liquidity" being the ease with which an asset can be readily monetized, i.e., exchanged for money. So if "liquidity preference" is high, it suggests people feel insecure or uncertain

—p.42 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) default author
notable
1 year, 4 months ago

(noun) a theory in economics that stable economic growth can be assured only by control of the rate of increase of the money supply to match the capacity for growth of real productivity

73

"Monetarism" is the name given to the influential but failed attempt on the part of the neoclassically inspired monetary authorities, during the late 1970s and early 1980s, to control money markets--and therefore the value of money--from the supply side.

—p.73 State Power and the Power of Money (47) default author
notable
1 year, 4 months ago

"Monetarism" is the name given to the influential but failed attempt on the part of the neoclassically inspired monetary authorities, during the late 1970s and early 1980s, to control money markets--and therefore the value of money--from the supply side.

—p.73 State Power and the Power of Money (47) default author
notable
1 year, 4 months ago

an economic law stating that supply creates its own demand (named after eighteenth-century French economist Jean-Baptiste Say)

106

if the labour market ever worked the way neoclassical theory imagines it--if wages were flexible, Say's Law held, and all willing workers found jobs in some orthodox "full employment" dream--then workers would have no fear of "the sack."

—p.106 Markets, Contracts, and Firms (77) default author
confirm
1 year, 4 months ago

if the labour market ever worked the way neoclassical theory imagines it--if wages were flexible, Say's Law held, and all willing workers found jobs in some orthodox "full employment" dream--then workers would have no fear of "the sack."

—p.106 Markets, Contracts, and Firms (77) default author
confirm
1 year, 4 months ago

a government-backed bond denominated in a foreign currency, usally a widely-trusted "reserve" currency like the US dollar (contrast with "government bonds" which are in the home currency)

135

Most states issue both "government bonds" [...] and "sovereign bonds"

—p.135 The Long Boom and the Longer Downturn (113) default author
notable
1 year, 4 months ago

Most states issue both "government bonds" [...] and "sovereign bonds"

—p.135 The Long Boom and the Longer Downturn (113) default author
notable
1 year, 4 months ago

a bond that is issued at a deep discount to its face value but pays no interest

137

we will assume a "zero-coupon" bond, meaning that all the investment risk is calculated into the difference between par value ($100,000) and the discount Brazil must offer to attract investors

—p.137 The Long Boom and the Longer Downturn (113) default author
notable
1 year, 4 months ago

we will assume a "zero-coupon" bond, meaning that all the investment risk is calculated into the difference between par value ($100,000) and the discount Brazil must offer to attract investors

—p.137 The Long Boom and the Longer Downturn (113) default author
notable
1 year, 4 months ago