Macroeconomics/Radical Economics

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Radical Left Economics Perspective[edit]

  • The capitalist system is cited as the culprit of unequal wealth distribution
  • Capitalism is built upon the exploitation of workers

Criticisms of other perspectives[edit]

Neo-classicals / Neo-conservatives[edit]

  • Criticized for not modeling their theories after reality
    • Forced reality to conform to their theories
      • The capitalist system did not become the norm in England because it was popular among the people, but because they were forced off their own land or off the land they used to work on as a peasant to become a wage worker
    • Then claimed how closely "reality" and their theories resemble
    • Using their own theories, they claim and predict how smoothly the system is and will be running

Neo-liberals[edit]

  • Criticized for trying to fix an unfixable system
  • Analogous to "rearranging the deck chairs on the Titanic"

Analysis of the Existing System[edit]

The State[edit]

  • The state is an organ of class rule
  • It exists to protect the interests of ruling class