DOCSLIB.ORG

The Socialists Are the “Crocodile Tears”

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Socialists Are the “Crocodile Tears” SUBSCRIPTION RATES: by the Comprodally Publishing Co., Inc., dally, except Sunday, at 50 East Published By mall everywhere: One year, $6; six months, $3; two months, $1; excepting Boroughs Page 13th Street, New York City, N. Y. Telephone Algonquin 7956-7. Cable: "DAIWORK." Daily Four of Manhattan and Bronx, New York City. Foreign: One year, $8; six months, $4.50 Address and mall all checks to the Daily Worker, 50 East 13th Street, New Tork, N. Y. Central M Portg U.S.A. -byburck THE SOCIALISTS ARE THE “CROCODILE TEARS” ENEMIES OF WORKERS By JORGE (1. Enter Mr. Morris Hillquit, Chairman of two “red” papers. For the chairman of the N. Y. Times the “Socialist” Party.) “socialist” party is a member of the board of The directors of the International Union Bank, Versus the N. Y. Times By PAUL NOVICK. which once “belonged” to the International La- We wish Mr. Ochs (pronounced "ox” and (The following is the first of a series of dies’ Garment Union and was transferred in meaning "bull”), who Is the owner iof the N. Y. articles by Comrade Paul Novick on the “so- 1927 to a group of capitalists, Hillquit amongst Times and one of "our” 59 rulers, would quit cialist” party of America. Workers wiil them. Probably the only thing that dis- calling himself a liar and proving It. That’s our average job, find these articles of much value in their tinguishes this bank from the capi- not his. In short (If a Communist is allowed to use the discussions on the parties ar.d platforms in talist bank is that the Hillquit concern en- gages speculating, beg word "short” in talking about wheat) we wish the present election campaign.—Editor.) rather heavily in par- don—“investing.” the N. Y. Times would either quit lying about exposing Morris Hillquit is not merely a rich cor- This capitalist role of the guiding spirit of Soviet wheat deals or stop itself. poration lawyer. Morris Hillquit is the chair- For ten days or so, the Times has been rant- the American “socialists” and of the Second ting in headlines over acres of space against man of the “socialist” party, its brains, its International was only part of hi 3 role as a raids," Some of ita Morris Hillquit is the lifelong "Soviet bear and so on. theoretician. lawyer for the bosses in all their fights, in- headlines and news summaries show up as fol- representative of the American “socialists” on cluding their fights against workers. In 1927 lows: the executive committee of the Second (“So- when Lgcal 25 of the International Fur Work- “SOVIET SHORT SALES BREAK WHEAT cialist”) International. He has just returned ers Union, a bona fide A. F. of L. local in PRICE”—Sept. 20. from one of the sessions of that committee, in Newark, was having a fight with the Consoli- "WORLD BEAR DRIVE IS SEEN"—Sept. 23. Zurich. Morris Hillquit is a symbol of Amer- dated Rabbit Dressing Manufacturers, the "PURPOSE TO MAKE SPECULATIVE PROFIT, IF NOT TO CREATE FARM UN- ican and international “socialisni,’ its guiding workers discovered that Morris Hillquit was (at least, as far as American REST”—Sept 20. spirit “socialism” behind the bosses, as their lawyer and guiding “With concerned.) "Farmers Denounce Deals”—Sept. 25. is spirit (for good non-spiritual pay, of course). the world wheat markets upset by Soviet tac- Then, who is Morris Hillquit? The Communist Freiheit had demanded that tics..." "Measures to meet Soviet dumping...” Hillquit explain that the workers, "A flood of Russian wheat feared..." And any Labor Who’s Who,” matter to ‘"The American published but it seems that here, too, like the leader of number of other lies, both plain and fancy. the Hand School in 1925 tells us: lawyer, by a Tammany Hall, the leader of the “socialist” It is particularly Important to note that the a member of the national executive commit- party felt “insulted.” He did not explain. It Times puts this kind of anti-Soviet propaganda born page, featuring it in every way so tee of the socialist party at various times, ¦was unnecessary. The matter was too clear. on the front in Riga (Latvia), came to the U. S. in 1386, that its readers can’t miss it.' A man with such a variety of activities But on the editorial page, where compara- lecturer, author, 214 Riverside Drive. There away could not have stayed from the under- tively few readers turn to read except those who are, however, some pertinent points of infor- world. The relations between and “so- “socialism” understand that the stuff on the front page is mation about this gentleman, which the the underworld will be dealt with in a separate lying propaganda, the Times finally on Tuesday, cialist” publishing house has omitted and article. As far as this unscrupulous money- Sept. 23 allowed an editorial slamming Secretary which the workers must know—in order to maker Hillquit, he simply could not have Hyde as being "Rather Hysterical” and calling knew the face, or the soul, of the “socialist” stayed away from a source which supplies so —“The whole discussion incoherent" —an in- party. much “easy money,” racketeering. coherence to which the Times contributed with Hillquit al! its might. is for years known as one of the The Daily Worker last Thursday has pointed shareholders It says in addition, that—“at least our own of the Burns’ Coal Trust. Wheth- out the honorable mention Hillquit is receiv- er he still is a shareholder we do not government might keep Its head” —but it does know. ing in Courtney Terret’s book on racketeering still It all depends on the amount of dividend these its damnedest to cheer the government on to in the States, “Only Saps Work.” It great stupidities, if such are possible. shares bring now. If the shares are still as United appears from pages 107-108 of that book that The Times company publishes a weekly journal profitable as Hillquit bought when them there Hillquit was the lawyer for the chief racketeer “The Annalist,” which is not meant for ordi- is, according to present-day “socialism” no in the glaring trade in New York, William nary folks to read, but only the big business- reason why should have sold them. brokers, experts he Ellinger, after he (Ellinger) had shot and near- men, commercial and statis- True, is a reason. The Burns’ Coal ticians. Now let us see what the Annalist does there ly killed one of the small dealers of that is an open shop concern, a strikebreak- trade, to the N. Y. Times headline quoted above: "Pur- Trust Joseph Okonovitz. was found guilty ing concern that is exploiting its workers mer- Ellinger pose to make speculative profit, if not to create and sent to Sing Siflg, but that did stop cilessly. But all this was known to the brains not farm unrest." Here’s what the Times “Annalist” Hillquit from acting lawyer says Sept. of the “socialist” party when the shares were as his before the on 26: Court of Appeals—for a We may, of course, discard at once Secre- bought, in the first place. A good profit, fat retainer, of course (the racketeer went to Sing Sing and Hillquit tary Hyde’* theory that the short selling wee however, or heavy dividends, is a major fac- done for the purpose of fomenting unrest in all dealings was left with the money obtained through tor of the chairman of the “so- racketeering). among American wheat growers...lt is pat- cialist” party, even if it is profit derived from ently ridiculous. “closed” or open-shop exploitation. Courtnay Terret, in his book on racketeering, It is highly probable that no government, Mr. Hillquit is supposed to be an authority is trying to shield the “socialists” and the A. even that of Soviet Russia, would be willing en Marx’s “Capital.” More so, he is an F. of L. leaders. Morris L. Ernst, “socialist,” to assume the enormous risks obviously in- of on capital, or campaign manager for Heywood Broun, wrote volved in a speculative transaction this authority Wall Street rather simple and readily Wall Street stocks in which he began dabbling the preface to Terret’s book and probably took nature. A much more to protect his Hillquit’s understandable reason for the short selling years ago. It is not known whether he has care party-colleagues. hedge and name was left stoolpigeons in factories, unions and fraternal is that it was selling pure simple. lost anything in the recent crashes—many a because Ernst himself is a law- Russia, in other words, unlike the Farm yer anything organizations. They pay higher wages and “socialist” has lost heavily—but it is common and does not find wrong in acting Board, hedges wheat crop because she for grant special privileges to sections of workers her knowledge that Hillquit has always been the underworld, for a good retainer, or may The “Socialist” Platform Wants does NOT wish to speculate.” gambling, beg pardon—“investing.” be he wanted to show up a competitor. Any- to separate them from the masses. There is a lot of additional evidence, whlct The “socialist” spirit behind these gamblings way, Hillquit was properly placed in the Rich Gamblers Show the Way. we might offer as exhibits in the case of the the N. Y. Times, but you has moved Mr. Hillquit in 1924 to send in Rogue’s Gallery of Racketeering Land. But Gamblers on the stock exchange, N. Y. Times against . more. More Prisons will see from what is given that there is no the Cloakmakers’ Union a bill twenty-five All that is probably enough of a for record for successful managers of shady deals set the pace doubt but that it is guilty of shameless hypo- dollars that union the leader of “socialist” thousand for representing the party, but Hill- in the country.
Load more

Recommended publications
  • British Anti-Communist Propaganda and Cooperation with the United States, 1945-1951. Andrew Defty
    British anti-communist propaganda and cooperation with the United States, 1945-1951. Andrew Defty European Studies Research Institute School of English, Sociology, Politics and Contemporary History University of Salford Submitted in fulfilment of the requirements of the Degree of Doctor of Philosophy, January 2002 British anti-communist propaganda and cooperation with the United States, 1945-1951 Contents Acknowledgements................................................................................................. .......ii Abbreviations.................................................................................................................iii Abstract..........................................................................................................................iv Introduction....................................................................................................................! Chapter 1 The Origins of Britain's anti-communist propaganda policy 1945-1947.............................28 Chapter 2 Launching the new propaganda policy, 1948.....................................................................74 Chapter 3 Building a concerted counter-offensive: cooperation with other powers, 1948-1950 ........123 Chapter 4 'Close and continuous liaison': British and American cooperation, 1950-1951 .................162 Conclusion .....................................................................................................................216 Notes Introduction .........................................................................................................226
    [Show full text]
  • The Class Struggle in United States
    The Class Struggle in United States By Pavlito Geshos (nom d’plume) The objective conditions for a working class upsurge in the United States are ‘over-ripe’. By this I mean that, over the last twenty years, ‘objectively’, the workers have suffered under oppressive working conditions, extreme loss of jobs, wage cuts and denial of job rights by their employers. There has also been a systematic and deliberate failure to protect workers rights by the government agencies that are designed to defend workers rights. This means that the legal rights to organize unions or to demand safe and healthy working-conditions, are not being protected by the United States government. Those union leaders that are allowed to hold power in the United States are, in general, class collaborationists. These union leaders hold their power by making deals with or giving concessions to the capitalist class and capitalist state. Under the class-collaborationist leadership of the American labor unions, American workers have been led down the path of ‘least resistance’. Workers have tried every other option except struggle on a massive scale. Each labor contract, over the last twenty years, has involved concessions to corporate management on some level (loss of wages, benefits, jobs or job rights). Those union leaders who do fight for their members are put under a news media slander attack and/or under legal attack by the capitalist state. Effective ‘class struggle’ union leaders have been driven out of power. An example of this is the great Teamsters strike against United Parcel Service, which shut down a major sector of the parcel delivery industry in 1999.
    [Show full text]
  • The Road to Serfdom
    F. A. Hayek The Road to Serfdom ~ \ L f () : I~ ~ London and New York ( m v ..<I S 5 \ First published 1944 by George Routledge & Sons First published in Routledge Classics 2001 by Routledge 2 Park Square, Milton Park, Abingdon, OX14 4 RN 270 Madison Avenue, New York, NY 10016 Repri nted 2001, 2002, 2003, 2004, 2006 Routledge is an imprint ofthe Taylor CJ( Francis Group, an informa business © 1944 F. A. Hayek Typeset in Joanna by RefineCatch Limited, Bungay, Suffolk Printed and bound in Great Britain by TJ International Ltd, Padstow, Cornwall All rights reserved. No part ofthis book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers. British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library ISBN 10: 0-415-25543-0 (hbk) ISBN 10: 0-415-25389-6 (pbk) ISBN 13: 978-0-415-25543-1 (hbk) ISBN 13: 978-0-415-25389-5 (pbk) CONTENTS PREFACE vii Introduction 1 The Abandoned Road 10 2 The Great Utopia 24 3 Individualism and Collectivism 33 4 The "Inevitability" of Planning 45 5 Planning and Democracy 59 6 Planning and the Rule of Law 75 7 Economic Control and Totalitarianism 91 8 Who, Whom? 1°5 9 Security and Freedom 123 10 Why the Worst Get on Top 138 11 The End ofTruth 157 12 The Socialist Roots of Nazism 171 13 The Totalitarians in our Midst 186 14 Material Conditions and Ideal Ends 207 15 The Prospects of International Order 225 2 THE GREAT UTOPIA What has always made the state a hell on earth has been precisely that man has tried to make it his heaven.
    [Show full text]
  • Class, Wealth, and Power
    Who Really Rules the United States? Class, Wealth, and Power Folks: For most of you, this will be a fairly long (three-part) reading. From the perspective of studying for the test, the first two parts are for the most part straightforward. About the third part (comprises two sections), which is choke full of statistics: so, how would you go about studying this material for this class? To begin with, I am not interested in how well you can memorize statistical data in this part of the reading. What I would like you to do, instead, is to figure out the main points Professor William Domhoff is making concerning the distribution of wealth, income, and power in this country on the basis of the statistical data he presents. I also want you to study the graphs and tables. What do they tell us? The fundamental issue in this reading is not that all wealth and income inequality can ever be eliminated in a capitalist society (even if one wanted to for reasons of social justice), but rather how the wealthy and the powerful unfairly bend the rules of the game—involving the perpetration of class warfare on the masses (the working/middle classes)—to produce an ever-widening gap in wealth and income that in the long run hurts the objective interests of everyone (including the wealthy themselves—most ironically) from the perspectives of both procedural democracy and authentic democracy. In Part Three, Section II of this document, I want you to accord special attention to the relationship between class and race in this country, and the pernicious role of those who I call pseudo-intellectuals (the “mercenaries” of the capitalist class).
    [Show full text]
  • Capitalist Revolutionary: John Maynard Keynes
    capitalist revolutionary CAPITALIST REVOLUTIONARY JOHN MAYNARD KEYNES Roger E. Back house Bradley W. Bateman HARVARD UNIVERSITY PRESS Cambridge, Massachusetts London, England 2011 Copyright © 2011 by the President and Fellows of Harvard College All rights reserved Printed in the United States of America Library of Congress Cataloging- in- Publication Data Back house, Roger, 1951– Capitalist revolutionary : John Maynard Keynes / Roger E. Backhouse, Bradley W. Bateman. p. cm. Includes bibliographical references and index. ISBN 978- 0- 674- 05775- 3 (alk. paper) 1. Keynes, John Maynard, 1883–1946. 2. Keynesian economics. I. Bateman, Bradley W., 1956– II. Title. HB103.K47B25 2011 330.15'6092—dc22 2011010437 To our families, past, present, and future CONTENTS 1. Keynes Returns, but Which Keynes? 1 2. The Rise and Fall of Keynesian Economics 21 3. Keynes the Moral Phi los o pher: Confronting the Challenges to Capitalism 47 4. Keynes the Physician: Developing a Theory of a Capitalist Economy 77 5. Keynes’s Ambiguous Revolution 113 6. Perpetual Revolution 139 Documenting the Keynesian Revolution: A Bibliographic Essay 161 Notes 175 References 179 Ac know ledg ments 187 Index 189 capitalist revolutionary 1 KEYNES RETURNS, BUT WHICH KEYNES? Following the fi nancial crisis of September 2008 when the Ameri- can investment bank Lehman Brothers collapsed, threatening to engulf the entire banking system, the British economist John Maynard Keynes returned to center stage. In the pop u lar press and in the writings of many economists, Keynes featured promi- nently as governments around the world urgently sought ways to avoid economic collapse. In the United States, the New York Times contained articles titled “What would Keynes have done?” (October 28, 2008), “The old economist, relevant amid the rub- ble” (September 18, 2009), and “An old master back in fashion” (November 1, 2009).
    [Show full text]
  • Capitalism – a Condensed Version Capitalism – a Condensed Version
    Capitalism – a Condensed Version Capitalism – a Condensed Version ARTHUR SELDON with commentaries by james bartholomew and d. r. myddelton The Institute of Economic Affairs CONTENTS First published in Great Britain in 2007 by 8 The Institute of Economic Affairs The author 2 Lord North Street Foreword 9 Westminster Summary 10 London sw1p 3lb in association with Profi le Books Ltd 1 Introduction 15 The mission of the Institute of Economic Affairs is to improve public John Blundell and Philip Booth understanding of the fundamental institutions of a free society, by analysing The origin of Capitalism − a Condensed Version 15 and expounding the role of markets in solving economic and social problems. The structure of Capitalism − a Condensed Version 16 Copyright © The Institute of Economic Affairs 2007 Commentaries 18 The moral right of the authors has been asserted. All rights reserved. Without limiting the rights under copyright reserved above, 2 Capitalism 20 no part of this publication may be reproduced, stored or introduced into a Capitalist beginnings 20 retrieval system, or transmitted, in any form or by any means (electronic, 20 mechanical, photocopying, recording or otherwise), without the prior written Marxist misinformation permission of both the copyright owner and the publisher of this book. The spur of inequality 22 23 A CIP catalogue record for this book is available from the British Library. The importance of property The enlightenment of pricing 24 isbn-10: 0 255 36598 5 isbn-13: 978 0 255 36598 7 The inevitability of change 26 28 Many IEA publications are translated into languages other than English or The customer just has to be right are reprinted.
    [Show full text]
  • Middle School History & Politics Society July 2020
    MIDDLE SCHOOL HISTORY & POLITICS SOCIETY JULY 2020 PUBLICATION 1 Counter Arguments To Capitalism By Johnnie Willis-Bund In the following article I will not be directly attacking capitalism, however I will instead addressing arguments often made in capitalism’s favour (and hopefully showing that they hold very little water). I hope you find them interesting, and perhaps change your mind about the economic system you live under. The first and most common argument for capitalism is also, I find, one of the weakest. It starts of, as most capitalist arguments do. “Oh sure, communism’s a nice idea, BUT…” and then goes on like, “no one would have any incentive to work. The free market means your actions have consequences so you have to work hard.” This is a perversion of the truth. It’s the reverse of the truth. In fact, under capitalism, people have less of an incentive to work, because their labour is alienated. This means, because the means of production are privately owned (and not by the workers who actually use them) the work you do nd the profits of your labour get stolen by your boss. The very concept of profit itself depends on the fact that the labourers are underpaid. Don’t you think that this alienation may disincentivize workers and that they would be more inclined to work hard if they were able to claim the values of their own labour (by owning the means of production). What capitalism does is exploits people into doing work for other people and never receiving the value of their labours because they have been coerced into becoming another cog in the machine of surplus value theft because they would starve otherwise.
    [Show full text]
  • AKIZHANOV Kuat THESIS FIN
    University of Bath PHD The impact of financialisation on income inequality in the context of neoliberalism. Country cases study: USA, South Korea, Argentina, Sweden Akizhanov, Kuat Award date: 2019 Awarding institution: University of Bath Link to publication Alternative formats If you require this document in an alternative format, please contact: [email protected] General rights Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. • Users may download and print one copy of any publication from the public portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain • You may freely distribute the URL identifying the publication in the public portal ? Take down policy If you believe that this document breaches copyright please contact us providing details, and we will remove access to the work immediately and investigate your claim. Download date: 07. Oct. 2021 The impact of financialisation on income inequality in the context of neoliberalism. Country cases study: USA, South Korea, Argentina, Sweden Kuat Balkhashevich Akizhanov A thesis submitted for the degree of Doctor of Philosophy University of Bath Department of Social and Policy Sciences February 2019 Copyright notice Attention is drawn to the fact that copyright of this thesis/portfolio rests with the author and copyright of any previously published materials included may rest with third parties.
    [Show full text]
  • Yanis Varoufakis: How I Became an Erratic Marxist
    Is Marx Still Relevant Today? Folks/Guys/People: the dramatic failure of what I call “totalitarian bureaucratic socialism” all across the planet (leaving aside for the moment the obvious example of the collapse of the former Soviet empire, compare for instance the development trajectories of North Korea and South Korea so far where the former is nothing more than a kleptocratic totalitarian hereditary dictatorship buttressed by pseudo- Marxist propaganda, while the latter is a thriving capitalist democracy), has provoked a triumphalist crowing by the right wing everywhere about the supposed superiority of corporate capitalism—when compared to any other economic system known to date—in guaranteeing socio-economic and political salvation for all humankind. This is nowhere more so than in United States (despite the presence of deep and widespread systemic contradictions, which, however, neither the bourgeoisie nor the masses are willing to acknowledge having long ago, to put it somewhat unkindly, exchanged their critical faculties in pursuit of hedonistic materialist consumerism). My question to you, however, is that does this automatically translate into the irrelevance of the ideas of the one person who understood the inherent limitations of capitalism as a liberatory force, Karl Marx? In other words, is the class struggle really over in capitalist countries today? This essay, published in the British newspaper, The Guardian, authored by an economics professor and Marxist, who once served as the finance minister in the Greek government led by the leftwing party called Syriza, provides an answer to this question—albeit from his perspective. Regardless of whether your inclination is toward liberalism or conservatism, please read, digest, ponder, and be prepared to be tested on this reading.
    [Show full text]
  • Anarchist Economic Practices in a 'Capitalist' Society
    the author(s) 2014 ISSN 1473-2866 (Online) ISSN 2052-1499 (Print) www.ephemerajournal.org volume 14(4): 951-975 Anarchist economic practices in a ‘capitalist’ society: Some implications for organisation and the future of work Richard J. White and Colin C. Williams Adopting an ‘anarchist squint’ (Scott, 2014: xii) this paper aims to expose, subvert, and undermine the dominant prima facie assumption that we live under a ‘neoliberal capitalist’ order. It achieves this primarily by drawing attention to the pervasive nature of alternative economic modes of human organisation within western society. Celebrating an ontology of economic difference, the paper argues that many of the existing ‘alternative’ modes of human organisation enacted through everyday material, social and emotional coping strategies are demonstrably and recognisably anarchistic. Far from being a residual and marginal realm, these anarchist forms of organisation – underpinned by mutual aid, reciprocity, co-operation, collaboration and inclusion – are found to be deeply woven into the fabric of everyday ‘capitalist’ life. Exploring the key implications for the organisation of everyday work, particularly at the household and community level, an economic future is envisaged in which anarchist modes of organisation flourish. The paper concludes by discussing why anarchist forms of organising and organisation should be harnessed, and how this might occur. Political, economic and social institutions are crumbling; the social structure, having become uninhabitable, is hindering, even preventing the development of the seeds which are being propagated within its damaged walls and being brought forth around them. The need for a new life becomes apparent. (Kropotkin, 2002b) An anarchist society, which organises itself without authority, is always in existence, like a seed beneath the snow, buried under the weight of the state and its bureaucracy, capitalism and its waste, privilege and its injustices, nationalism and its suicidal loyalties, relations differences and their superstitious separatism.
    [Show full text]
  • Marx for a Postcommunist Era: on Poverty, Corruption, and Banality Does Not Doomsay
    MARX FOR A POSTCOMMUNIST ERA When the Iron Curtain collapsed, capitalism reigned triumphant and the ‘end of history’ was declared. However, peace and prosperity have been short-lived. In recent years, anti-globalization protests have returned viol- ence to the streets, nations have been ravaged by ethnic genocide, and fundamentalist radicals have intensified their war with the West. In this uncertain climate, Marx for a Postcommunist Era: On Poverty, Corruption, and Banality does not doomsay. It does, however, seriously question the ability of market forces to deliver the greatest good to the greatest number. It rejects the class hatred and social engineering that has discredited Marxism in the past and it does argue that Marx’s emphasis on social equity, real democracy, and human capital still forcefully resonates in the modern day. After reviewing Marx’s philosophical roots and his twentieth-century re- ception, Sullivan applies Marx’s ideas to three major phenomena—poverty, corruption, and banality—that remain obstacles to freedom in the twenty- first century. Drawing on the 2000 US presidential elections, Russian tax evasion, the mixed success of privatization, the ascent of Hollywood and Silicon Valley, and our fascination with fake theme bars, ethno-chic fashion, and the retro trend in design, Sullivan also highlights the breadth of Marx’s legacy both inside and outside the academic world. Marx for a Postcommunist Era combines a deep understanding of Marxist thought with journalistic engagement in real-world themes. This compre- hensive and timely book will be of interest to students and academics in the areas of philosophy, sociology, politics, and cultural studies, and to anyone with an interest in Marx and his legacy.
    [Show full text]
  • “The Two Movements in Economic Thought, 1700–2000: Empty Economic Boxes Revisited”
    Incomplete draft of June 27, 2016 “The Two Movements in Economic Thought, 1700–2000: Empty Economic Boxes Revisited” Deirdre Nansen McCloskey1 My theme is of a Rise and a Fall of understanding, arising from a failure to measure one’s understanding. Down to 1848 the new field of political economy was gradually coming to understand the system of market-tested betterment (lamentably called by its enemies “capitalism”). After 1848, however, more and more of the economists, as they increasingly called themselves, came gradually to misunderstand it. Indeed, the political left and the middle came to treat the theories of market-tested betterment with angry contempt, such as Thorstein Veblen’s blast against English economics, with its allegedly necessary assumption of the “hedonistic conception of man . of a lightning calculator of pleasures and pains, who oscillates like a homogeneous globule of desire of happiness under the impulse of stimuli.”2 “Imperfections” in the market took center stage in economics, and the understanding that had developed during the Rise was at best forgotten, or at worst condemned as “capitalist” propaganda, so obviously false that no actual evidence for its falsity needed to be offered. The trouble we have had with the Fall after 1848 is that seldom or never have the alleged imperfections in market-tested betterment been subject to measurement. That is my main point: that the Fall has not been justified scientifically. From the point of view of the sciences that depend on measurement, such as geology or history, the course of economic science is strange indeed. The crux in the sad story of a retreat from understanding after 1848 was an ill-chosen piece of rhetoric, the locution “perfect competition.” “Perfect” competition came to be seen by the left and then by the center as a unicorn.
    [Show full text]