Home


What’s New


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 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 …

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 …

October 21, 2022

Originally published at notes on cinema James McMahon Rotten Tomatoes (RT) found a way to get every last drop from the well of convenience. Film criticism is already pressured, tacitly by convention, or explicitly by …

Read more

Review of Capital as Power (RECASP)


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. …

May 1, 2021

From Commodities to Assets Capital as Power and the Ontology of Finance JESÚS SUASTE CHERIZOLA May 2021 Abstract Assets are a crucial concept of the practice and mindset of the capitalist class. Critical analyses of …

Go to RECASP Journal

Blog


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 …

October 21, 2022

Originally published at notes on cinema James McMahon Rotten Tomatoes (RT) found a way to get every last drop from the well of convenience. Film criticism is already pressured, tacitly by convention, or explicitly by …

October 3, 2022

Chris Mouré Note: this is the manuscript version of an article now featured in The Mint Magazine. Few will argue with the claim that shortages are socially harmful. Shortages, by definition, imply a lack of …

Go to Blog

Publications


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 …

April 24, 2022

Abstract In the March 2021 issue of Harper’s, Scorsese wrote an essay to pay tribute to Federico Fellini, the Italian director who directed such great films as La Strada, 8 1/2, La Dolce Vita, Nights …

April 8, 2022

Abstract In Hollywood, the goals of art and business are entangled. Directors, writers, actors, and idealistic producers aspire to make the best films possible. These aspirations often interact with the dominant firms that control Hollywood …

February 5, 2022

Abstract Wenn man genau hinhört, kann man zuhören, wie Jeff Bezos immer reicher wird. Da ist es schon wieder, dieses Geräusch. Eine weitere Milliarde in Bezos‘ Kassen. Lassen Sie uns diesen Klang des Geldes mit …

February 4, 2022

Abstract This article examines the role of the Big Three asset management firms — BlackRock, Vanguard and State Street — in corporate environmental governance. Specifically, it charts the Big Three’s relationships with the public–owned Carbon …

December 18, 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 …

Go to Publications

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 …

Go to Working Papers

Forum


December 5, 2022 5:11 pm

Jonathan Nitzan

Scot, If I understand you correctly, you use r to denote the discount rate, which is distinct from the markup, representing the ratio of profits/revenues. To me, the discount rate r denotes the rate of return …

December 5, 2022 4:12 pm

Jonathan Nitzan

Scot, Apologies if I misinterpreted your intention. The truth is that I read your long reply to my 8 points, but found myself lost in its details. I also didn’t see an explicit retraction of …

December 4, 2022 9:28 pm

Scot Griffin

Jonathan Nitzan wrote:Scot, I think the issue here is not only whether we can write the equations correctly (which often we don’t), but also – and perhaps more so — whether the equations justify our …

December 4, 2022 8:49 pm

Jonathan Nitzan

Scot, I think the issue here is not only whether we can write the equations correctly (which often we don’t), but also – and perhaps more so — whether the equations justify our conclusions. You …

December 4, 2022 6:07 pm

Scot Griffin

A related thought: Just as the future value of something is unknowable, so, too, is the risk.  Perhaps the discount rate is really a reflection of relative power and not risk, at least when it …

December 4, 2022 5:58 pm

Scot Griffin

Jonathan Nitzan wrote: Scot Griffin wrote: In a world where the capitalist uses the capitalization equation to set what it will pay for input costs such as wages by discounting its expected profits from future …

Go to Forum

Bichler & Nitzan Archives


Go to BN Archives