Ep. 254 Karl Marx Was Kind of a Big Deal: A Response to Magness and Makovi

Bob first explains the synthetic control method and then critiques a newly published paper by Magness and Makovi employing the technique. M&M argue that were it not for the 1917 Russian revolution, Marx would today be a minor figure. Bob sharply disagrees.

Mentioned in the Episode and Other Links of Interest:

• The Magness & Makovi paper on Marx.
• RECEIPTS for Bob’s claims.
• Their AIER summary post.
• Bob’s paper with Phil on Piketty.
• John Ganz critique, 1 and 2. Phil’s response to Ganz.
• Help support the Bob Murphy Show.

The audio production for this episode was provided by Podsworth Media.

About the author, Robert

Christian and economist, Chief Economist at infineo, and Senior Fellow with the Mises Institute.