Showing posts with label Economics. Show all posts
Showing posts with label Economics. Show all posts

Thursday, August 15, 2013

Some Thoughts on Abiotic Oil.

By Gene Ogorodov

Opponents of the Peak Oil Theory invariably turn to Thomas Gold's Abiotic Oil Theory which proposes that oil (and all other hydorcarbons) are not by products of bio-matterial. Rather, the theory suggests, oil is a naturally occurring carbon byproduct of the earth's mantle. Other than a chemical experiment at Carnegie Mellon that produced natural gas under conditions that mirrored the earth's mantle, I have no idea what to make of the theory. Gold might be right, but the conventional explanation might also be correct. Eventually scientific experimentation will show the world a likely answer. 

However, the ambiguity of the origin of oil should not give one hope that the Hydrocarbon Age will last forever. The crisis of Peak Oil is not that there will be no more oil in the future, but that current rates of consumption are unsustainable. Considering that since the early 1980's the world has consumed more barrels of oil per year than it discovered necessitates that the fears of over consumption are true. 

Tuesday, August 6, 2013

Introducing Pine Flag Books Edition of Theories of Surplus-Value by Karl Marx

By Gene Ogorodov

Nothing shows the hard work and impressive genius of Karl Marx as well as Theories of Surplus-Value. Every academic worthy of being called an academic is intimately familiar with the work and major hypotheses of their contemporaries and most influential predecessors, and economics is a field of study no less professional than any other academic field, but few economists have gone through the Sisyphean task of describing and deconstructing every idea in the field. That is what Marx does in Theories of Surplus-Value. Only Marx, Schumpeter, and Wolff and Resnick have presented what may be truly called detailed comparisons of economic theories and theorists. However, Theories of Surplus-Value also gives an excellently detailed picture of the underlying logic behind Marxian Economics. Alongside Capital and the Grundrisse, Theories of Surplus-Value ranks as one of the most essential economic works of Karl Marx and the Marxian Tradition.

Pine Flag Books has published this seminal work in ebook format for Kindle and Nook. This edition is based on the edition published by Progress Publishers in the 1970's and edited by Gene Ogorodov.