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To dissolve, submerge, and cause to disappear the political or governmental system in the economic system by reducing, simplifying, decentralizing and suppressing, one after another, all the wheels of this great machine, which is called the Government or the State. --Proudhon, General Idea of the Revolution

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Thursday, August 14, 2008

John Medaille: The Political Economy of Distributism

The Political Economy of Distributism
by John Medaille

Chapter I: What's in a Name?
Chapter II: If it Ain't Broke
Chapter III: Political Economy as a Science
Chapter IV: The Purpose of an Economy
Chapter V: Equilibrium, or The Tao of Economics
Chapter VI: Justice and the Political Economy
Chapter VII: The Fictitious Commodities--Money
Chapter VIII: The Fictitious Commodities--Labor
Chapter IX: The Fictitious Commodities--Land
Chapter X: Property as Proper to Man

This book is extremely valuable as a critique of the operating assumptions of orthodox marginalist economics, although Austrians may fault it for focusing primarily on the dominant neoclassical school. I especially recommend the chapters on equlibrium and the fictitious commodities. The chapter on land, in particular, is an excellent introduction to Ricardian rent.

2 Comments:

Blogger Eric said...

That's very interesting stuff. I really like the terms "foundational good" and "excellent good" - particularly the latter. It's such a weird combination of words. Anyhow, economics are strange and hard to get one's head around.

August 20, 2008 9:36 AM  
Blogger Alan Avans said...

Foundational good and excellent good. Sounds like the difference between what Hugh Nibley referred to as 'goods of first intent' and 'goods of second intent.' There's a certain dialectic running around in there that demands that a dyad transform into a tranulus. A trinitarian pattern applied to very practical problems that require the use of a proper template.

Sorry for the mysticism. Can't help it this morning. Besides, we're dealing with John Medaille here, and I'm reading entirely too much of him this morning!

May 06, 2010 4:51 AM  

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