Building a New Economics
The Debunking Economics Podcast
Have marketers made Marx surplus to requirements?
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Have marketers made Marx surplus to requirements?

Marx’s theory of surplus value. Does that apply to one thousand dollar Gucci handbags?

Phil tells Steve that he’s always struggled with Karl Marx’s idea of surplus value. The idea that workers work for themselves, then a bit more to create the profit for a business. Phil says, that seems like a cost-plus approach, whereas in his marketing days, it was all about creating a brand that people would pay more for. The extra value was created b…

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Building a New Economics
The Debunking Economics Podcast
Economist Steve Keen talks to Phil Dobbie about the failings of the neoclassical economics and how it reflects on society.ems-based alternative to mainstream economics