The language of capitalism

In a Guardian op-ed, Doreen Massey explains how neoliberalism has altered the way we think and talk about the economy. While the general point is correct, the issue is much more fundamental than neoliberal ideology. The extent of the problem can be seen in the essay’s slugline: We should scrutinise the everyday language that shapes Continue Reading

The Buy-to-Build Indicator: New Estimates and Comment

This note presents new long-term estimates of what Jonathan Nitzan and Shimshon Bichler (2002: 53-4, 82-3; 2009: Ch.15) have named the ‘buy-to-build indicator’, which is calculated as the value of mergers and acquisitions as a percentage of gross capital formation. Estimating the buy-to-build indicators is not simple, principally due to the absence of consistent series for expenditure on mergers and acquisitions. Nevertheless, Continue Reading

Protest and gold deccumulation

Activists confronted Barrick Gold CEO Peter Monk and shareholders at the company’s annual meeting. A Globe & Mail article suggested: “The long term outlook for Barrick shares hinges on many factors: the gold price is obviously the biggest driver, but the company also faces vociferous opposition from environmentalists and many residents around its mine sites, Continue Reading