The Capitalist Mode of Power: Critical Engagements with the Power Theory of Value

This edited volume offers the first critical engagement with one of the most provocative and controversial theories in political economy: the thesis that capital can be theorized as power and that capital is finance and only finance. The book also includes a detailed introduction to this novel thesis first put forward by Nitzan and Bichler Continue Reading

Labouring in College Sports

Sports writer Patrick Hruby offers a breakdown of recent turmoil over the possibility that Texas A&M football star Johnny Manziel broke college sports rules pertaining to the payment of athletes. The piece provides some insights into the complicated political economy of U.S. American college sports. Billions of dollars circulate around athletes who are prohibited from Continue Reading

Paying for attention

The media company 21st Century Fox has purchased a five percent share of the website Vice for $70 million. The website produces a wide range of content. However, much of what it currently does is rabble rousing investigative reporting, like a recent half hour report  on Sarnia’s ‘Chemical Valley’ and the effect of the pollution generated Continue Reading

Transportation, Markets and Externalities

The Brazilian government is due to spend R$200 billion (US$84 billion) on its ports, airports, railroads and roads over the next two years. This spending highlights the impossibility of separating ‘politics’ from the ‘economy,’ as it is meant to reduce transportation costs, an important – and often overlooked – component of production, distribution and consumption. Continue Reading

Markets and Inequality

In the August 16 issue of The Financial Times, popularizing economics writer Tim Harford joined the chorus of voices raising the issue of income inequality. He asked whether or not we should care that the income gap is widening. He suggested there are two reasons we might care: process and outcome. On the process, Harford Continue Reading

Mediating the Intra-capitalist Struggle

U.S. regulators have subpoenaed powerhouses of financial intermediation, Goldman Sachs and JPMorgan Chase, as part of a probe into metal warehousing. Two companies identified with the supposedly ephemeral world of finance are being called to answer questions as owners of the decidedly concrete warehouses used to store aluminum. The investigation is being conducted by the Continue Reading