A really succinct and excellent piece by Madsen Pirie here on what Marx got wrong, particularly about his Hegelian model of change. As Pirie argues, change is more evolutionary than revolutionary, which means Hegel’s rather violent and triangular model of thesis, antithesis and synthesis is not a great means of describing what actually happens. Read Madsen’s piece on the ASI Website.
Economics is Fun Series – Part 1 – Value
This is the first in a series of short videos on the basic concepts of Economics, produced by the Adam Smith Institute and featuring the eccentric but rather brilliant Dr. Madsen Pirie. I’ll be posting more quick videos from this excellent series over the coming weeks.
First up, why objects have no value and what Marx got wrong about labour.