What happens when we confuse price with value? We end up undervaluing care. We pollute more. And the financial sector is allowed to brag about how productive it is—while often just moving around existing value, created by others. Most importantly we end up with a form of capitalism that rewards value extraction activities over value creation, increasing inequality in the process.
Related Articles
Steve Keen – The crumbling world of lobotomized economists
How mainstream economists keep killing the economy? Why MMT makes sense? What is the first thing he would do right now, if he was in charge of economic policies? Why is public debt not the […]
Chantal Mouffe and Wolfgang Streeck on Left Populism
Chantal Mouffe is the author of For a Left Populism https://www.versobooks.com/books/3097-for-a-left-populism, as well as Gramsci and Marxist Theory, Hegemony and Socialist Strategy (with Ernesto Laclau), The Return of the Political, and more. See all her […]
The Sustainability Agenda: Interview with Kate Raworth
In recent years, more and more attention has been paid to how economic theory is divorced from environmental reality, exemplified by how environmental breakdown is often dismissingly referred to as a mere “externality”. In this […]
Be the first to comment