Is there any use in reading Marx in understanding economic trends? He wrote a bunch about financial crises.
It seems mainstream economics has a ton of holes in its theories outside of some of the base concepts.
mainstream economics is wrong in so many ways
read Antifragile
Yes and no.
Marx acknowledges a number of realities that even today many mainstream economists prefer to write off. However, he writes more about the flaws of Capitalism than he does about the endpoint of Communism, and for good reason.
Basically read Marx if you want to understand class better, which is something that most economists won't touch with a ten foot pole.
>>1358725
>Basically read Marx if you want to understand class better, which is something that most economists won't touch with a ten foot pole
Will this help us be better businessmen?
>>1358729
Yes, because you will understand how to move up the chain.
>>1358729
Understanding how class interests impact economic decisions is huge in understanding what comes next. Many economic decisions are made not for economic benefit but for class warfare.
>>1358744
Can you give me an example of it being used for class warfare?
>>1358748
He's explaining something in a roundabout fashion, and possibly offering you a rabbit chase.
>>1358748
Enforcing austerity and cutting social welfare in times of economic crisis.
>>1358788
Sometimes cutting entitlements along with raising taxes is necessary to balance a budget anon.
But seriously, if OP is asking a real question then you should stop trolling.
>>1358792
Atleast I hope he is trolling. Poorfags deserve nothing anyway.
It's like 50 pages long. Worth a read if only due to it's societal impact, imo.
>>1358792
Interesting article and not from some left wing rag. Liberal maybe. The funny thing is that there have been economists within the IMF saying this kind of thing for decades and yet they still continue in situation after situation to pursue these policies. You have to ask why, if you don't have an understanding of class interests in the formulation of policy you'd think they are stupid.
https://www.washingtonpost.com/news/wonk/wp/2012/10/12/imf-austerity-is-much-worse-for-the-economy-than-we-thought/
>>1358806
Situationally it can be good or bad depending on whether cuts in fiscal expenditure are going to have a net negative or positive impact on the economy. IS-LM and all that.
Reading Marx will make you hate money altogether.
>>1358806
Austerity is not that bad so long as an adequately expansionary monetary policy is followed.
The problem with Greece is that the ECB won't help them and keeps rates high for the Germans.
