Phillip W. Magness

U.S. Economic & Political History

On the intellectual uselessness of a certain method of socioeconomic analysis

| March 27, 2018

A few brief observations: 1. The Labor Theory of Value is incapable of functionally explaining even basic economic relationships. See Menger 1871. 2. The notion that class identity functionally drives political or any other type of collective action is hopelessly incoherent and undermined by a pervasive free rider problem. See Olson 1965, Section IV. 3. […]

Abolitionists, Communists, and Jacobin magazine’s fake Jeff Davis quote

| March 4, 2018

One of the stranger recent currents in historical discussions around slavery involves an increasingly common attempt by scholars and activists on the far left to enlist historical abolitionists as ideological ammunition to the causes of anti-capitalism or even socialism. A primary motivating factor appears to be the so-called “New History of Capitalism” (NHC) genre of […]