Re: Re: WSJ on teaching economics

["Justin Schwartz" <jkschw@xxxxxxxxxxx>]

Jim asks:

> Murray
> > Wolfson of California State University, Fullerton.
>
> isn't he the author of a worthless screed against Marxian economics?
>
> Jim Devine jdevine@xxxxxxx & http://bellarmine.lmu.edu/~JDevine

I haven't read his 1964 Reappraisal of Marxisn Economics in many years,
although I have my copy on my desk just now. I recall being impressed with
it. He argues that Marx does not make good on an inevitable collapse thesis,
but otherwise is pretty good as an analyst of capitalism, and can't be
dismissed. "Only the most obtuse reader can fail to recognize that a century
ago Marx raised the key economic questions of our time." (p. 186). Don't we
all agree with that? Wolfson was obviously a New Deal Keynesian liberal, but
his book is not a worthless screed against Maxian economics. --jks
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