Unlearning Economics video
Hello everyone, a while back I posted about making a video responding to Unlearning Economics' critique of Marxist economics. I did end up making that video. Any feedback welcomed.
I'm so happy to see you made the video!
Watching it now 😀
Excellent! is their a study doing the correlation with unit output.
this was great! gonna share it around!
Now that I think about it, the unit output per industry isn't a commensurate value, you'd have to measure demand in the average person hours worked to consume the supply (aggregate output) at the current price; the notion of industry 'size' doesn't seem meaningful, if you plotted avg. person hours worked to consume the supply it would be proportional to the sector's labor content.
@madredalchemist I was going to include a short bit on how Bichler & Nitzan violate dimensional analysis with their spreadsheet because the correlation they suppose would require aggregating unit values and unit prices of incommensurable commodities, but it felt immaterial to the broader argument about spurious correlation.
Excellent video. One nit: you forgot to use parenthesis around 53:00 in S/(C+V)
One thing that could also be brought up against Bichler & Nitzan is that "correlation != causation" is only a valid argument when there is no underlying causal theory, and the LTV is notably a causal theory. They also don't bring up any competing theory.
Looking forward to more videos. Let me know if you want to collaborate on something (: