Prices and efficient allocation of goods

Reading: Current Affairs, Do Economists Actually Know What Money Is? Economics is separated from other social sciences by its use of models. Whereas other social sciences try to gather evidence from the past and present to understand what might occur in the future, economics creates mathematical models to try to show what is likely to […]

Efficient equilibrium in economics

The Economics for socialists series looks at the intellectual basis of the economics field. Reading: Harvard Business Review, There is No Invisible Hand Economics is separated from other social sciences by its use of models. Whereas other social sciences try to gather evidence from the past and present to understand what might occur in the […]

Intellectual property and the arts

At the January 28 general meeting, we discussed issues of intellectual property and the arts. Articles: The Comics Journal, Who owns the Man of Steel? Priceonomics, How Mickey Mouse Evades the Public Domain   Summary: Under capitalism, people can own capital, or things that can be used to make money. Often, the role of intellectual […]

The 20-hour workweek

Today’s education topic centers around the possibility of organizing our economy around goals other than profits. Readings: https://www.currentaffairs.org/2017/01/for-a-luxury-leftism https://mronline.org/2009/12/16/whats-wrong-with-a-30-hour-work-week/ https://www.jacobinmag.com/2016/01/blizzard-snow-storm-northeast-socialism-capitalism/ Discussion outline: Leader starts by talking about a hobby or what they’d do if they had more free time. Maybe you have a really cool hobby, would like to learn a language, learn an instrument, […]

Minimum wage and the capital strike

Today’s education topic was capital flight (also known as a capital strike). Capitalism is not democratic, and the best example of this is the minimum wage. Our readings show that a massive majority of Americans supports a small minimum wage increase. Recent polling shows that 91% of Democrats, 76% of independents, and 58% of Republicans […]