Relevant and even prescient commentary on news, politics and the economy.

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Der Gefesselte Marx

…is the same, the transformation into money, exchange value as such, as limit of production; or exchange founded on value, or value founded on exchange, as limit of production. This is:…

Improper Concepts to Measure

…normalizing for “utility” and market value) — perhaps not perfectly but very effectively, estimating based on dollar-denominated, market-determined values. But Arnold seems to want to do much more than correct…

It’s the Private Debt, Stupid

…you listen to) supposedly underpin those financial assets’ value. • Eventually people realize that the value of financial assets far exceeds the value of real assets — and far exceeds…