Professor Shaikh has empirical evidence to back up his assumptions and he appears to have fashioned new tools to help the discipline of Economics progress. We need more people in Economics like Anwar Shaikh.I am reading his book in conjunction with these lectures and I am amazed at his work, he is brillant.

@scottsolomon9802

6 жыл бұрын

I LOVE this guy! I can't wait for my book order to arrive!

@kerembaloglu3877

2 жыл бұрын

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I feel like so many economic theories completely ignore social dynamics. It’s refreshing to see an economist that actually factors that into their model.

"Nobody's going to buy an Iphone for 1,000 dollars, or even 500 dollars". How the times have changed. What a glorious mess is this market system, and these insane consumers.

@ideashop4981

3 жыл бұрын

I thought that was funny too but I had to remember it was filmed 6 years ago

Shaikh's a rockstar!

15:00 Firms produce regulating outcomes that override the preferences of individuals to produce specific types of outcomes.

as someone who's self-educating on all this type of shit, this guy is a lot easier to understand than i was expecting. i bought his book not realizing it was a textbook for graduate level shit lolol we'll see how much more difficult the lectures from here thanks for uploading these lectures! i feel like they'll make reading his book a lot more do-able.

@jsbart96

3 жыл бұрын

I'm doing exactly the same! I did a degree in chemistry, but i'm trying to teach myself econ. So much maths!!! good luck mate

@realityalwaysbulliesopinio1961

Жыл бұрын

Basic Economics by Thomas Sowell is the best place to start. No charts, no graphs, just simple explanations in lay man terms. Whilst there is always something to learn from other economists the far majority of what you hear is just intellectual masturbation. Best of luck

Another part of the story of how economic theory came to be as it is found in the tasks given to the first generation of economists trained in the European (mostly German) universities. European governments were engaged in a new, industrial-dependent era of empire-building. Governments needed to know where resources existed and in what quantity. They needed to know the labor needs of industry, of industry and of government. If resources were not fully available domestically, they needed to know where they could be found and secured in other parts of the world. Economists stepped forward to serve these interests of the state, providing the data and reports -- without normative observations. Very quickly, these European trained economics professor displaced political economists in the faculties of colleges and universities.Think a bit about the discussion of the setting of prices. Every good produced by humans is perishable. Even those goods with relatively long useful lives depreciate in value almost from the very moment they are produced. The demand for some goods is relatively constant over time, within a known range of prices. For goods that are markedly unique from goods previously available, demand may result in a bidding up of price when there is wide consumer acceptance. Or, the anticipated market does not materialize. In order to move the inventory of such goods off the shelves, it may be necessary to reduce the asking price to a level below the cost of production or even recall the goods from the market for redesign or destruction.A different sort of "rational expectation" where human behavior is concerned is supported by the history of our behavior in the actual world. Henry George described this expectation with the axiom that we seek to satisfy our desires with the least exertion; and, therefore, we have a very consistent tendency to attempt to monopolize natural opportunities. Here is where Professor Shaikh's introduction of "violence" as an integral part of the story of human interactions. We possess an instinct for cooperation. We also possess in instinct for conflict, conflict that too often takes the form of violent behavior.

I always interpreted it as a 'wisdom of the crowds' like model rather than literal perfect competition.

Thank you very much for uploading these lectures. What year of the graduate program is this course taught?

Incredible!!!

Absolutely great.

infinitas gracias

Thank you. Could you add subtitles to this and following lectures?

are there a subtitled version like the class 1??

Does the course include vickery auctions? As far as I'm aware vickery won the Noble prize for his theory of prices.

Where is the reading list?

where can i get the reading list of this course? I appreciate you help..

@user-ep6sq6kc5p

7 ай бұрын

Shaiks nssr website

It seems to all boil down to "Sneetches are Sneetches and the Sneetches with stars upon thars are the best on the beaches."

55:00 Arguments against game theory. There is a lot of things people do without thinking!

52:10 Hymer. Robinson Crusoe and the secret of primitive accumulation

Effective theories, basically a theory of deviations is very common in physics. It’s basically a Taylor series. Probably doesn’t belong in economics though.

subtitles please

17:00 In the neoliberal economy there is no theory of price. Neither producer nor consumer set prices. They drivel that the "market" sets prices. But what is the market? The market is consumer and producer. In marxism it is obvious from the very beginnig that firms set the price*

These are truly great value lectures. But I think in this one he is a bit unfair on game theory @36min. Maybe deterministic zero sum games have nothing to teach us about economics, but he does use the metaphor of warfare to characterize market capitalism, and that absolutely comes under broader nondeterministic game theory. Hell, even Iterated Prisoners Dilemma is nondeterministic and does not disconnect “agents” from each other, so I would argue games at least as richly connected as IPD are not within the bogus religion of neoclassical economics. They are somewhere in between classical Econ and Shaikh’s generalized warfare/diffusion theory. I would not discount some of the lessons from such game modeling, they are a lot like war, but also with cooperation pay-offs, and so have incredibly rich collective phenomenology.

21:20 COUGH

58:00 Analytical marxism

13:36 Neoliberal economy is a religion. Heaven and earth example

4:15 Commodity fetishism - Marx

he's long on downplaying classical economics but doesn't introduce his theory at all, i'm left feeling lost. I'd like a short summary of what he IS proposing first.

In der bürgerlichen Gesellschaft herrscht die fictio juris, daß jeder Mensch als Warenkäufer eine enzyklopädische Warenkenntnis besitzt. = In the bourgeois society rules the fictio juris, that every human as a commodity buyer has an encyclopedic knowledge about every commodity. (Marx)

Instead of criticizing the 2 factor model of production, Professor Shaikh has issue with the correct part of neoclassical economics. His ideas certainly don't seem consistent with fundamental concepts of Georgism, seems to me.

no subs :-(???

subs please!!!! at least in english

There's little need to pay more than $60 to $150 for a smartphone.

I feel his criticism of the introductory pieces of microeconomics is a bit unfair. To me, lots of academic theory and model building starts off at a very abstract level, makes lots of simplifying assumptions, in order to get at the essence of what the theorist is interested in. The you build from there, loosening assumptions, and trying to get closer to the real world. but you don't start your model of consumer behaviour trying to model the interpersonal relationships with other people. it's like saying Newtonian mechanics doesn't take into account the shape of the object being studied and general relativity.

@jamesdoctor8079

4 жыл бұрын

Robert Bailey I have to disagree. The problem is that when every undergraduate intro course in economics is largely based on simplifying assumptions, those that go off to the real world and start jobs after undergrad maintain this false conceptual framework. Not everyone is going to go to graduate studies in economics. There needs to be a revamping of the entire system to more emphatically include concepts like Marx’s alienation and consumer fetishism. Hell, even more Austrian concepts would be helpful in explaining how the world actually behaves

@jsbart96

3 жыл бұрын

But surely if the empirical evidence exactly shows the opposite of your assumptions, then finding foundations that don't require absurdly incorrect assumptions about individual preferences is much better and more scientific. Why create a false framework, and then chip away at it until you start to get something that reflects reality, then call reality 'imperfect'. Why not derive laws from reality like in the sciences, instead of the opposite, like in orthodox econ.

@nickolasrobert7340

Жыл бұрын

The thing isn't that the simplifications are "simple in excess",but that they're empirically wrong,and we can develop a microeconomic theory without tese simplifications. In other words, they're wrong and not necessary.