CSEP Paper 0, Lecture 8 | Economics and Power, Jose Miguel Ahumada
Jose Miguel Ahumada presents a lecture on Economics and Power, through an introduction to the main ideas of Karl Marx and Thorstein Veblen. The central premise is that both authors understood economic reality not as a place of exchange of commodities among free agents, or as a place where rational agents make decisions in the context of scarcity, but as a place with a despotic domination of a business class over an expropriated majority. Thus, for these two authors power relations and the contradictions emerging from them form the nucleus of economic reality. Given that power is one of the most neglected topics in mainstream economics, the theories of these two authors offer a particularly potent counterweight to that.
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