Welcome to Bookmarker!

This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading.

Source code on GitHub (MIT license).

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You added a vocabulary term
8 years ago

neoclassical economics

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) by Geoff Mann
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8 years ago

difference between Marx and Smith

[...] The most important difference between them lies not in their explanation of what drives capitalist production, but in the fact that Smith saw increasing harmony and mutual interdependence where Marx saw conflict, exploitation, and inequality. In his analysis of capitalism--and remember, unlik…

—p.23 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) by Geoff Mann
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8 years ago

Adam Smith on the accumulation of capital

Smith assumes that in this system, money serves almost entirely as a means of payment or unit of account. He doesn't imagine market participants seeing money as a form of wealth they could or should accumulate (as we would today). This leads him to assume that people will not hold money as a store …

—p.21 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) by Geoff Mann
You added a vocabulary term
8 years ago

Physiocrat

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) by Geoff Mann
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