Yo [he/him]

Don’t DM me, find me on Matrix (or XMPP) instead

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Cake day: 11 de junio de 2023

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  • Yeah… I think the book is too big (~2.000 pdf pages) so the few people that we actually read it in this group (I think it’s like 4 people) are at different parts of the book (like early Section B, early Section C, late Section C, etc.). That way it’s harder to have a conversation about the contents:/

    In a (very) few posts above, you may see some people talking about the content and I tend to participate in these conversations, but they don’t go very far. Other times I might be having an issue interpreting the book while keeping notes, so I may ask a queation under an older post, but since almost noone checks older posts, I end up answering my own question lol.

    In the instance’s matrix chat there might be a short convo about the book from time to time, but I think it’s about as much convo we have here on lemmy haha.

    Im not very sure how I could keep this place more alive, I think if there was another reading group for way shorter books (like 100-200pages) most could probably read it in a month or two and have a more lively discussion. I probably cant take up on this task though as I probably wont have time to participate in reading even more books haha.

    Kinda hope at least that the weekly tagging of the participantd and slowly progressing may encourage people to keep reading this book.

    I also want to say that in the future, if someone stumbles upon this books and wants to ask something, they could probably find the appropriate post and ask (and probably noone will answer apart from me cuz it will be buried in the post history).

    Another thing is that due to the FAQ nature of afaq, people could just jump in ~at any moment without having read the previous parts.

    I dont know:/ Maybe I could focus on keeping this post more active and use it as an “everything goes in” thread? Should I encourage people to post the same stuff under both this post and the post with the appropriate section so that any questions arent buried in post history? Should I post here links to any new messages in the other posts? (I kinda like the last idea, hm, might do that.) Shrug














  • So, I was having some trouble with definitions, so I made an entry in my notes (hope all these terms don’t hurt eyes):

    Definitions of capitalist economics terms

    • Downward sloping demand curve:
      • As the price increases, quantity demanded decreases
      • X axis: Quantity demanded
      • Y axis: Price of product
    • Price elasticity of demand of a product:
      • A measure of how sensitive the quantity demanded is to its price
        • Higher elasticity means higher sensitivity
    • Rising supply curve:
      • As the price of a commodity increases, the quantity supplied will increase
      • X axis: Quantity demanded
      • Y axis: Price of product
    • General equilibrium theory:
      • Seeks to prove that the interaction of demand and supply will result in an overall general equilibrium:
        • A market in which the quantity supplied for every product or service, including labor, equals the quantity demanded at the current price
        • Junction points of demand and supply curves (they are supposed to be sloping inversly)
    • Perfect competition:
      • The ideal conditions (in theoretical models) of perfect competition, under which a market will reach a general equilibrium
    • Horizontal demand curve:
      • A change in price leads to a significant shift in demand
        • Huge increase in quantity of demand with virtually no drop in price
      • Means demand curve is perfectly elastic
    • Rational expectations theory:
      • Seeks to infer the macroeconomic consequences of individuals’ decisions based on all available knowledge
      • It assumes that individuals’ actions are based on the best available economic theory and information




  • Umm near the beginning it says:

    Instead it is, to a large degree, deeply ideological and its conclusions almost always (by a strange co-incidence) what the wealthy, landlords, bosses and managers of capital want to hear. The words of Kropotkin still ring true today:

    This is the key problem with economics: it is not a science. It is not independent of the class nature of society, either in the theoretical models it builds or in the questions it raises and tries to answer. This is due, in part, to the pressures of the market, in part due to the assumptions and methodology of the dominant forms of economics. It is a mishmash of ideology and genuine science, with the former (unfortunately) being the bulk of it.

    When it says that it is not a science, does it refer to neoclassical economics (or capitalist economics in general)? Because I feel like in the whole section it criticizes neoclassical economics.

    EDIT: OK, after some talking in the matrix space I concluded that it refers about capitalist economics and in some parts it refers to neoclassical capitalist ecnomics in particular. After all, the title of the section C is “What are the myths of capitalist economics?” :))