Capitalism’s Deniers

Originally published at Real World Economics Review Blog. from Shimshon Bichler and Jonathan Nitzan A new, capitalism-denying book is on the shelves, and it makes a stunning discovery: ‘Capitalism without competition is not capitalism’! Distortions: Capitalism Denied Capitalist crisis, like climate change, tends to breed ‘capitalism deniers’. The problem, argue the deniers, lies not in capitalism but in […]

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Comment on Can Capitalists Afford a Trumped Recovery?

The following commentary on Nitzan and Bichler’s piece ‘Can Capitalist Afford a Trumped Recovery?’ first appeared on the blog Pension Pulse, written by Leo Kolivakis. Earlier this week, I hooked up for a lunch with George Archer and Jonathan Nitzan, two friends of mine who also had previous stints working at BCA Research. I enjoyed our lunch […]

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Spiegel Online Analysis of Deutsche Bank’s Differential Misfortune

Deutsche Bank was a central figure of the 2008 global financial crisis. While some of its compatriots, such as Goldman Sachs, have re-ascended to the commanding heights of global capital, Deutsche remains a shadow of its former self as seen in the graph below (screenshot from Yahoo! Finance). A comparison of Deutsche Bank (DB) with […]

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Logics AND the Logic of Accumulation

The presiding logic of capitalism is that of accumulation. CasP re-emphasizes and re-theorizes accumulation as ‘Moses & the Prophets’ of capitalism. However, Nitzan and Bichler’s theorization severs the link between accumulation and productivity that grounds both mainstream and critical value theory. Instead, they emphasize the meaning of the nominal quantities of capital as a translation […]

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Social Change and the Bottom Line

The North Carolina legislature recently passed a law, widely known as the ‘Bathroom Bill,’ that bans anti-discrimination protections for gay and transgender people. The law has generated a lot of backlash from the general public and several high-profile musicians have cancelled scheduled appearances in the state. However, it is not just activists or celebrities who […]

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Petrodollars and Profit: Rethinking Political Economy through the Middle East

Review by Max Ajl of Jonathan Nitzan and Shimshon Bickler’s The Scientist and the Church. Originally published at Jadaliyya Howard Page, a director at what was then Exxon, was once asked, “What would have happened if Iraq production had also surged during the 1960’s,” like that of Saudi Arabia and Iran. He responded, “I admit […]

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The Renminbi on the World Stage

The IMF recently announced that China’s currency, the CYN (Chinese Yuan Renminbi), would be included in the IMF’s basket of currencies, known as the SRD (special drawing rights). The designation comes after China adopted certain reforms in accordance with International Monetary Fund (IMF) policies. The CYN will comprise 11% of the basket, with reductions of […]

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Is Hollywood running out of risk?

Shimshon Bichler and Jonathan Nitzan Repost from Real-World Economics Review Blog If we are to believe the conventional creed, Hollywood films are highly risky investments. According to De Vany, revenue forecasts have zero precision, which is just a way of saying that ‘anything can happen’. . . . The ‘nobody knows’ principle . . . is revealed in the infinite […]

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Patriarchy above the glass ceiling

The logic of accumulation is not the only logic that motivates capitalists. As fully actualized human beings, they remain complex in their desires. Rather, the logic of accumulation is dominant and, Nitzan and Bichler argue, pervasive and ascendant; increasingly operating beyond the business domain. However, the other logics, or principles of behaviour, that inform people’s […]

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Accumulatory Struggles in the Labratory

A systemic review [PDF] of systemic reviews of scientific literature on the relationship between sugar and obesity found, unsurprisingly, that there is bias in the reviews conducted on behalf of the sugar business. The review’s conclusion reads: “Financial conflicts of interest may bias conclusions from SRs [systemic reviews] on SSB [sugar-sweetened beverages] consumption and weight […]

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