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Synthetic Karl Marx and His Clumsy Critic

Author

Listed:
  • Phillip W. Magness
  • Michael Makovi

Abstract

In his second critique of our paper “The Mainstreaming of Marx: Measuring the Effect of the Russian Revolution on Karl Marx’s Influence,” Joseph Francis presents an eclectic array of attacks on our findings. In this response we show that Francis makes basic econometric and measurement errors when building his arguments. Through additional testing, we show that our original results remain statistically significant and robust to Francis’s challenges.

Suggested Citation

  • Phillip W. Magness & Michael Makovi, 2025. "Synthetic Karl Marx and His Clumsy Critic," Econ Journal Watch, Econ Journal Watch, vol. 22(1), pages 108–141-1, March.
    • Handle: RePEc:ejw:journl:v:22:y:2025:i:1:p:108-141
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    References listed on IDEAS

    as
    1. Joseph Francis, 2024. "Should We Quantify Karl Marx?," Econ Journal Watch, Econ Journal Watch, vol. 21(2), pages 357–384-3, September.
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    1. Joseph Francis, 2025. "From Synthetic Marx to Synthetic Kafka: A Rejoinder to Magness and Makovi," Econ Journal Watch, Econ Journal Watch, vol. 22(1), pages 1-91–107, March.

    More about this item

    Keywords

    P-values; smoothing; synthetic control; Karl Marx;
    All these keywords.

    JEL classification:

    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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