The extended quiescence of this 'blog has largely been an artefact of my limiting of various activities as I bore-down on critiquing Production of Commodities by Means of Commodities, a work of heterodox political economy by Piero Sraffa. The task has been thoroughly unpleasant, because there is so very much wrong with his work and because he writes in an obscure manner. At the same time, I have been dealing with depression intensified by personal circumstances. Had I allowed myself to step away from the project more than I did, I might never have finished it.
I have not, indeed, finished it; but, on Wednesday morning, I completed a first draft of the article. That draft is now in the hands of some of the other economists whom I know. (Naturally, I have since found things that I want to change, though none of these represent a major issue.) So I think that I will be back to writing more entries here.
One of the economists who has graciously said that he would take a look at the article (not-withstanding that it is monstrous in size!) asked me what motivated my writing of it.
Over many years, I have repeatedly been annoyed by encounters with those who draw upon PoCbMoC. More recently, I have been concerned by increased popular support for administrating economies (which support happens to be egalitarian or quasi-egalitarian); and this book is part of the infrastructure of the experts who defend such administration.
Further, at the time that I finally began actually working on this article, I felt stalled-out in my paper on the axiomata of qualitative probability. (That paper was and is a rat's nest, in which the basic propositions are not currently each perfectly orthogonal to all others.) In a sense, then, this article on Sraffa's book was intended as a break, though I quickly discovered that the task was going to be far more onerous than I had presumed.
Production of Commodities by Means of Commodities is the central text of neo-Ricardian economics, and a core text of post-Keynesian economics; it is also an important source for a variant form of Marxism that would abandon the labor theory of value. If I can get my article published in a reputable journal, that publication will eventually be the death of neo-Ricardianism and of the aforementioned variant of Marxism; I don't know enough about post-Keynesianism to know how well they might do without PoCbMoC. Some of my criticisms are relatively minor, but some of them strike at the heart of the work.
(It took rather a long time to develop my article, but reading it offers the impression a nearly continuous rain of blows, some dreadful.)
eventually because I wouldn't expect the present admirers to acknowledge how hard they'd been hit, but I'd expect a virtual end to the winning of converts. I don't know that I can find a journal to publish the article because
- it is quite long;
- the mainstream of economists are unfamiliar with PoCbMoC so that
- editors and reviewers may think it insufficiently significant, and
- those reviewers most likely to feel sufficiently competent to examine my article are admirers of Sraffa.
I intend never again to pore over a work, even as short as PoCbMoC, when it is discernibly crack-pot. As I told a friend, I have been doing my time on the cross here; let someone else go after other such thinkers. I am capable of original work of significance, and that is how I intend to spend my remaining time qua economist.
This 'blog was begun as I left LiveJournal, appalled by its evolving policies under its second and then third owners. One might reasonably conceptualize this 'blog as a continuation of that which I had at LJ, and some of the entries of this 'blog are recyclings of entries from the earlier 'blog.
None-the-less, this 'blog has become very different from its predecessor. LiveJournal is a social-networking site; part of the reason that it has withered is that its users migrated to more successful social-networking sites. My present 'blog doesn't work that way. I have recurring readers, but there's nothing much like the Friends feed of LJ or of Facebook. There is no centralized connector of interests (as on LJ). I have regular readers, but they are likely to use an RSS aggregator (such as Flipboard) and less likely to comment (especially if they are using such an aggregator). I get far more irregular visitors, who are here by way of Google (or of some other search service), grabbing some information, and not so much as visiting any page here other than their entry pages.
So it doesn't feel appropriate to offer mundanities of the sort that I would relate to a neighbor or to a friend on the telephone. My public entries tend to be things that I imagine strangers would appreciate reading. The restricted entries (basically accessible to friends who followed me as I migrated from LJ) are almost entirely personal; but a reader is required to make a special effort to access them, so they are not about ordinary events; they are usually very personal.
With entries to this 'blog thus typically requiring more thought, there are generally fewer of them, and the 'blog becomes dormant when I cannot — or believe that I should not — give thought to those entries.