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.