Understanding Marx and Marxian Class Theory
We present a simple guide to Marx, Marxian class theory, Marx’s theory of history, and Marx’s economic theories to help westerners understand what Marx was all about.
Economics
Economics is the social science that studies the production, distribution, trade, and consumption of goods and services. Economics uses a mix of psychology, mathematics, experiment, and analysis to predict and understand economies.
There is a Gender Pay Gap Fact
The gender pay gap is real, and so is the gender earnings gap. Even after all reasonable differences are factored out, an unexplained pay gap between men and women exists across the board.
Charging Interest Used to be Viewed a Sin Fact
Usury (charging interest in moneylending, especially at high rates) used to be viewed as a sin by many religions and was banned by many cultures.
Work Creates Private Property and Economic Value Fact
As John Locke and Adam Smith elude, physical work creates private property and gives possessions exchange-value (value in a trade).
The Progressive Federal Income Tax System Explained
In America we have a Progressive Federal Income Tax system broken down into “tax brackets”. Tax Filers pay the “marginal tax rate” on each dollar of income in a given bracket (after most deductions, but before tax credits).
About Half of American Families Pay Little to No Income Tax Fact
About half of American families pay little to no federal income tax after tax credits and deductions. Payroll taxes, excise taxes, and sales taxes hit the average American family the hardest.
Neoliberal Globalization and Nativist Protectionism Explained
We explain neoliberalism, globalization, nativism, and protectionism and the pros and cons of “neoliberal globalization” and “nativist protectionism.”
Eugenics Has Historically Been a Popular Theory Fact
Eugenics (including positive eugenics which breeds traits, and negative eugenics which prevents breeding) has been practiced since the Greeks, but rose to popularity in the west starting in the late 1800’s.
James Monroe Wrote the Monroe Doctrine Myth
One might assume James Monroe wrote the 1823 Monroe Doctrine, but its primary author was future-President and then secretary-of-state John Quincy Adams.
Stability Breeds Instability Fact
Stability isn’t necessarily destabilizing, but as Hyman Minsky’s Financial Instability Hypothesis eludes: longterm stability breeds instability and diminishes resilience in economic markets, mainly due to psychological factors.