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When Marxists Deploy the Quantity Theory of Money and Other Economic Nonsense

Wednesday, March 1, 2017 22:40
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by Philip Pilkington

Article of the Week from Fixing the Economists

It’s truly infuriating to watch left-wingers talk absolute nonsense when discussing the economy. I encounter it all too often. What you generally get is a hodge-podge of incoherent economic ideas – usually incorporating the worst aspects of right-wing doctrines like monetarism – topped off with a general hand-wave that, well, capitalism is full of ‘contradictions’ and doesn’t work anyway so what’s the use of discussing it in any detail.

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Source: http://econintersect.com/a/blogs/blog1.php/when-marxists-deploy-the-quantity

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