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February 6, 2023

Abstract Capitalizing a Cure takes readers into the struggle over a medical breakthrough to investigate the power of finance over business, biomedicine, and public health. When curative treatments for hepatitis C launched in 2013, sticker …

February 6, 2023

Abstract There is little doubt that, in the last hundred years or so, progress has been made in lifting more people out of extreme poverty. Yet, considerable economic inequalities both within and between nations persists …

February 3, 2023

Abstract הקפיטליזם שולט בעולם. דיונים סוערים מתנהלים בין המלומדים הממסדיים לבין “הביקורתיים” על טיבו של הקפיטליזם הגלובלי. הבעיה היא שטיבו של המוסד המרכזי בקפיטליזם — ההון — אינו ידוע. לאחר יותר ממאתיים שנה של התפתחות …

January 17, 2023

The Business of Strategic Sabotage SHIMSHON BICHLER and JONATHAN NITZAN January 2023 Abstract In a recent article, Nicolas D. Villarreal claims that our empirical analysis of the relation between business power and industrial sabotage in …

January 10, 2023

Regan Boychuk The bias of Alberta’s media in favour of our dominant industry is both pervasive and obvious to any careful observer. But how to prove it? Studies of media bias are notoriously difficult and …

December 21, 2022

Abstract This paper uses word frequency to track the rise and potential peak of capitalist ideology. Using a sample of mainstream economics textbooks as my corpus of capitalist thinking, I isolate the jargon of these …

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Review of Capital as Power (RECASP)


January 17, 2023

The Business of Strategic Sabotage SHIMSHON BICHLER and JONATHAN NITZAN January 2023 Abstract In a recent article, Nicolas D. Villarreal claims that our empirical analysis of the relation between business power and industrial sabotage in …

June 23, 2022

Pensions and Power The Political and Market Dynamics of Public Pension Plans ERALD KOLASI June 2022 Abstract This paper uses the theory of ‘capital as power’ to analyze the struggle over public pensions in the …

May 3, 2022

Costly Efficiencies Healthcare Spending, COVID-19, and the Public/Private Healthcare Debate CHRIS MOURÉ May 2022 Abstract Proponents of private healthcare often claim that the private sector is more ‘efficient’ at delivering healthcare services. This paper tests …

hype (from wiki commons)
April 23, 2022

Hype The Capitalist Degree of Induced Participation YURI DI LIBERTO April 2022 Abstract Power is usually considered as either a ‘positive’ or ‘negative’ construct, as in the power to force action versus the power to …

October 9, 2021

Soft-wars A Capital-as-Power Analysis of Google’s Differential Power Trajectory CHRIS MOURÉ October 2021 Abstract The capital as power framework, developed by Jonathan Nitzan and Shimshon Bichler, argues that the aim of business is not ‘profit …

August 21, 2021

Reconsidering Systemic Fear and the Stock Market A Reply to Baines and Hager JAMES MCMAHON August 2021 Abstract This article responds to Baines and Hager’s recent critique of the capital-as-power model of the stock market. …

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Blog


January 10, 2023

Regan Boychuk The bias of Alberta’s media in favour of our dominant industry is both pervasive and obvious to any careful observer. But how to prove it? Studies of media bias are notoriously difficult and …

December 13, 2022

Regan Boychuk Author’s note: At the end of the First Cold War, Canada tried to make the polluter pay. This resulted in the United States launching an unknown, but successful coup in Alberta over the …

December 4, 2022

Regan Boychuk Author’s note: At the end of the First Cold War, Canada tried to make the polluter pay. This resulted in the United States launching an unknown, but successful coup in Alberta over the …

December 2, 2022

Regan Boychuk Author’s note: At the end of the First Cold War, Canada tried to make the polluter pay. This resulted in the United States launching an unknown, but successful coup in Alberta over the …

November 24, 2022

Originally published at pluralistic.net Cory Doctorow Neoclassical economics is a hell of a drug. It has no theory of prices, no account of inflation, and its models all presume the existence of a perfectly rational …

October 24, 2022

Originally published at Fresh Economic Thinking Cameron Murray Do you believe this headline? I don’t. The many problems with measuring a country’s wealth are on full display in this Credit Suisse report. But let’s start …

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Publications


February 6, 2023

Abstract Capitalizing a Cure takes readers into the struggle over a medical breakthrough to investigate the power of finance over business, biomedicine, and public health. When curative treatments for hepatitis C launched in 2013, sticker …

February 6, 2023

Abstract There is little doubt that, in the last hundred years or so, progress has been made in lifting more people out of extreme poverty. Yet, considerable economic inequalities both within and between nations persists …

February 3, 2023

Abstract הקפיטליזם שולט בעולם. דיונים סוערים מתנהלים בין המלומדים הממסדיים לבין “הביקורתיים” על טיבו של הקפיטליזם הגלובלי. הבעיה היא שטיבו של המוסד המרכזי בקפיטליזם — ההון — אינו ידוע. לאחר יותר ממאתיים שנה של התפתחות …

December 21, 2022

Abstract This paper uses word frequency to track the rise and potential peak of capitalist ideology. Using a sample of mainstream economics textbooks as my corpus of capitalist thinking, I isolate the jargon of these …

December 21, 2022

Abstract Steve Keen’s book, The New Economics: A Manifesto (2021), offers a new path for economics, and for good reason. In his view, neoclassicism, the paradigm that rules modern-day economics, has become a serious menace: …

August 23, 2022

Abstract Covid-19 and the Global Political Economy investigates and explores how far and in what ways the Covid-19 pandemic is challenging, restructuring, and perhaps remaking aspects of the global political economy. Since the 1970s, neoliberal …

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Working Papers on Capital as Power


October 31, 2022

Abstract Marxists love to hate the theory of capital as power, or CasP for short. And they have two good reasons. First, CasP criticizes the logical and empirical validity of the labour theory of value …

January 3, 2022

Abstract This paper builds an empirical and theoretical model to analyze how the financial goal of risk reduction changed the insides of Hollywood’s star system. For the moviegoer looking at Hollywood cinema from the outside, …

December 23, 2021

Abstract Neoclassical economics is the official scientific underpinning of capitalism as well as its main ideological defence, and according to Keen, it fails in both tasks. Contrary to received opinion, neoclassicism cannot explain capitalism – …

December 23, 2021

Abstract This note offers some speculative ideas worth considering. One of the key features of all hierarchical civilizations is their rulers’ fear of death. This fear was famously narrated in the ancient myth of Gilgamesh …

December 23, 2021

Abstract The debate around public versus private health care often turns on cost – that is, on how to reduce costs, and particularly government expenditures, when it comes to health care. This paper examines the …

October 24, 2021

Abstract Although the determinants of income are complex, the results are surprisingly uniform. To a first approximation, top incomes follow a power-law distribution, and the redistribution of income corresponds to a change in the power-law …

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Forum


February 7, 2023 4:56 am

Lilly Nelson

This post raises an interesting point about the limitations of the traditional Marxian class analysis based on means of production. The author argues that a more nuanced and accurate view of class can be achieved …

February 6, 2023 11:09 am

jmc

For various reasons, I am working through Against Method slower than I initially hoped. I want to introduce to the conversation another interpretation. More than Kuhn’s The Structure of Scientific Revolutions, Feyerabend places strong emphasis …

February 5, 2023 5:30 pm

Rowan Pryor

A while back, I lost a bet with a prominent economist; left-leaning, altruistic and science-literate but still very much a conventional economist. I do not know him personally, I have just frequented his blog. The …

February 3, 2023 12:44 pm

Scot Griffin

Have you considered undertaking a similar analysis of other economic data where a consensus number is tracked, like GDP, PMI, or something like that (if such historical data are available) ? See this economic calendar from …

February 2, 2023 12:14 pm

jmc

Thanks, Blair and Scot! Your suggestions already have my head buzzing with simple fixes or proxies. Here is what I found when I counted by four conditions: both +; both -; +e but -a; -e …

February 2, 2023 7:20 am

Blair Fix

Very interesting research, James. Here are some possible ways to measure hype that would work with negative values: Nomenclature: prediction = predicted EPS actual = actual EPS abs = absolute value Hype as the log …

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Bichler & Nitzan Archives


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