Silicon Valley startups: audio of the talk

Why no startup can truly make the world a better place.

Karl Marx’s invisible hand

Marx’s invisible hand is the law of value: it explains how a market economy coordinates the division of labour, and therefore why the prices of commodities bear a lawful relationship to the labour time required to produce them.

The predistributive innocence of profits (and losses)

Profit is not inherently exploitative.

Supply and demand in historical time

Supply and demand without intersecting curves.

Setting prices in the chaos of the market

On adjusting prices in historical time.