Value

Unlearning Economics' guide to you-know-what.

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Chapters
0:00 Intro
0:56 Wealth Creation
13:22 The Search for a Scientific Theory of Value
25:58 BreadTube vs Economics #4: The Labour Theory of Value
36:51 Taking the Labour Theory of Value Seriously: The Transformation Problem
49:43 Taking the Labour Theory of Value Seriously: The Falling Rate of Profit
1:01:49 Do We Need Theories of Value?

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Produced by Hobbie Stuart
Animations by Grim Friberg
Thumbnail by Sorcha Cartoons
Artwork by Jacob Cob
© 2022 Unlearning Economics

Thanks so much to @BroeyDeschanel, @HowMoneyWorks, @BenFelixCSI, @Econoboi, and @munecat for the quotes.

I am an academic economist from the UK who has long been critical of the economics profession and how economics is used in public policy. Mostly the channel will cover economics with a critical perspective but I aim to educate people about economics in the process, so I'll try to explain key concepts and ideas along the way. That way, even if you disagree with aspects of the videos you will hopefully learn something from them. Subscribe for more!

References (in rough order of appearance)
The Value of Everything: Making and Taking in the Global Economy, Marianna Mazzucato
GDP: A Brief But Affectionate History, Diane Coyle
The Neoclassical Theory of Distribution, Gonçalo L. Fonseca https://www.hetwebsite.net/het/essays...
Economic Ideology, Joan Robinson
Destiny video:    • "Stop Criticizing Left Content Creato...  
NonCompete video:
   • Here's why capitalism SUCKS! -- and w...  
Tiffany Ferguson video:
   • Our Productivity Obsession (even duri...  
Novara Media video:
   • How Mick Lynch OWNED The Media  
Joan Robinson and the labour theory of value, E.K. Hunt
Property And Contract in Economics: The Case For Economic Democracy, David Ellerman
Transformation Problem Wikipedia page: https://en.wikipedia.org/wiki/Transfo...
Marx after Sraffa, Ian Steedman
How the Labor Theory of Value Emerges from Egalitarianism, Blair Fix https://economicsfromthetopdown.com/2...
Testing the Labour Theory of Value: An Exchange, Birchler and Nitzan
Reclaiming Marx's "Capital" A Refutation of the Myth of Inconsistency, Andrew Kliman
The Failure of Capitalist Production Underlying Causes of the Great Recession, Andrew Kliman
Hakim’s video    • Why Capitalism Will Always Fail (Capi...  
FRED dataset: https://fred.stlouisfed.org/
Revisiting a world rate of profit, Michael Roberts
UK rate of profit and British economic history, Michael Roberts
Measuring the rate of profit; profit cycles and the next recession, Michael Roberts
The historical transience of capital The downward trend in the rate of profit since XIX century, Maito
Is There a Tendency for the Rate of Profit to Fall? Econometric Evidence for the U.S. Economy, 1948-2007, Basu and Manoulakos
Distributive shares in the US economy, 1964–2001, Mohun
The Falling Rate of Profit Thesis Reassessed: Toward a Sociology of Marx’s Value Theory of Labor, Bradford
Crisis Theory and The Falling Rate of Profit, Harvey
An Essay on Marxian Economics, Joan Robinson