For my complete list of papers, click here. I'll update this over the next few weeks to include links to all papers.
This page was added in October 2003 to organize my non-published academic papers; I'm afraid that I haven't kept it all that up to date, and the home page has a more complete (if less structured) listing. It will be a while before it is completely up to date, but please bear with me! Any links here will be permanent but the papers may not be: if a paper is published then I will replace the PDF document with a link to the journal.
This paper was recently rejected by the AER. Here is the referee's report and the editor's covering letter, plus my rejoinder. It is obvious that the referee did not comprehend the main point of the paper (that the neoclassical "profit maximization" formula MC=MR is incorrect) but instead seemed to think our main argument concerned aggregation of marginal cost curves. The editor declined to revise his decision (I'll post his reply shortly).
The paper is currently being revised for resubmission to
another journal, with the argument that confused the AER referee relegated to
a footnote.
I haven't published anything on Marx for a long time (since 1993), but the material published then was derived from my Masters thesis on Marx. There are many academic economists in the ambivalent position of regarding Marx as one of the greatest economists of all time, but rejecting a key construct of his theory, the labor theory of value (LTV). I am in that camp too, but differ in that I argue that Marx actually developed a disproof of the labor theory of value. However he then tried to reinterpret this far superior theory of value to make it consonant with the LTV. His misinterpretation was false, but it fooled a century of both critics and believers. The document below is my thesis (114 pages, so it will take a while to download!)
