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Originally published on Economics from the Top Down Blair Fix Do you believe in free markets? Do you think that unfettered competition is the best way to organize society? If so, this post is intended …
Originally published on Economics from the Top Down Blair Fix In this post, I’m going to return to the relation between energy and institution size. When we left off last time (in Groping in the …
Originally published on Economics from the Top Down Blair Fix In this post we’re going to take a journey into the world of power-law distributions. Power laws pop up again and again in my research. …
Originally published on Economics from the Top Down Blair Fix In the opening post of this blog, I described my ‘top-down’ approach to studying society. This means studying groups of people without trying to reduce …
Originally published on Economics from the Top Down Blair Fix There is an exciting side of blogging that I want to explore here. Blogging can tell the story behind research. This is something you don’t …
Elvire Thouvenot has produced an animated video that summarizes the key points of Bichler and Nitzan’s 2014 paper “Can Capitalists Afford Recovery? Three Views on Economic Policy in Times of Crisis.” This paper was first …
Blair Fix, Jonathan Nitzan and Shimshon Bichler The study of economic growth is central to macroeconomics. More than anything else, macroeconomists are concerned with finding policies that encourage growth. And by ‘growth’, they mean the …
Ken Zimmerman This piece was originally posted on the Real-World Economics Review Blog here and here. Shimshon Bichler and Jonathan Nitzan are Israeli political economists. Together they’ve created a thought-provoking power theory of capitalism and …
Shimshon Bichler and Jonathan Nitzan Originally published at Real World Economics Review Blog. A new, capitalism-denying book is on the shelves, and it makes a stunning discovery: ‘Capitalism without competition is not capitalism’! Distortions: Capitalism …
Joe Francis The tendency toward buying other companies more than building new productive capacity continues in the United States In a past life I had access to expensive databases of corporate statistics, which I used …
Tim Di Muzio This post originally appeared on the website for Review of African Political Economy. Despite the fact that the ‘capital as power’ approach to critical political economy has been around for some time …
James McMahon Blair Fix, whose publications are available on this site, was interviewed by Post-Scarcity Anarchism. The interview covers his research on energy use and the relationship between hierarchy and personal income. Worth the listen!
Shimshom Bichler and Jonathan Nitzan The following research note first appeared on Real World Economics Review Blog. We have just updated the charts in our 2014 RWER paper ‘Still About Oil?’, and the picture they …
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 …
DT Cochrane In the days following the wide-spread distribution of a video depicting Chicago transportation police officers violently removing Dr. David Dao from a United Airlines flight, there was celebration as the market pummelled the …
DT Cochrane 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 …
Sandy Hager The following post is based loosely on my presentation at the first annual Thammasat University-Conference for Asia Pacific Studies in Phuket, Thailand (8-9 December 2016). What a difference a few months makes. This …
DT Cochrane 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 …
DT Cochrane In certain circles, Charlie Munger is a demi-god. He is the vice-chairman of Berkshire Hathaway, the holding company controlled by the god of markets himself, or rather, Warren Buffett. The words spoken and …
Sandy Hager This is a (longer) draft version of an article that is under consideration for the newsletter of the Tax Justice Network: Tax Justice Focus. Taxation is all about power. We are constantly reminded …
DT Cochrane Preface. I successfully defended my dissertation in December. This served as the introductory presentation for the defence. In it, I explain what I tried to do with the dissertation, the methods I used, …
DT Cochrane 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 …
DT Cochrane The Globe & Mail is reporting that the average fuel efficiency of new vehicles sold in 2014 dropped for the first time since 2011. The coverage suggests this is a response to falling …
DT Cochrane Reportage of the Panama Papers, leaked documents from the Panama-based law firm Mossack Fonseca, is getting intense attention. The papers reveal the use of shell companies to shelter wealth on behalf of many …
DT Cochrane An op-ed on the advocacy website Oil Change International examines the high levels of debt within the oil business and the consequences of that debt for extraction. It postulates a dangerous positive feedback …
Max Ajl A review 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 …
DT Cochrane 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 …
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 …
Jonathan Nitzan Blair Fix, a PhD student in the Faculty of Environmental Studies at York University in Toronto, points to some important limitations of income inequality data. In a recent posting on capitalaspower.com, Fix shows …
Tim DiMuzio is lecturer in International Relations and public policy University of Wollongong in Australia. His book, The 1% and the Rest of Us: A Political Economy of Dominant Ownership, examines the insular lives of …
DT Cochrane The Globe & Mail recently published a roundup of seven analyses of the Canadian housing sector. All of the analyses took some position on whether or not housing in Canada is “overvalued.” The …
DT Cochrane 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 …
Joe Francis New data on the profitability of Argentina’s largest corporations help explain the origins of its last military dictatorship. During Argentina’s military dictatorship of 1976-1983, up to 30,000 people were killed by the armed …
Mladen Ostojic Recommended reading by the Transnational Institute (TNI) of Policy Studies: This paper demonstrates that the interests of American banking and government have converged since the early 1980s and relates this trend to modern …
Jonathan Nitzan In his November 29, 2013 piece, ‘Low Capex, High Market Cap: A New High for Corporate Sabotage?’, Edward Lam lends support to CasP’s sabotage thesis by showing how firms with relatively low ‘greenfield’ …
Joe Francis New data illustrate the extent to which economists have stopped discussing each other’s work. Once upon a time, economists regularly used to publicly criticise each other’s work in academic journals. But not any …
Phil Leech According to some forecasters the price of oil might hit $75 a barrel soon. Goldman Sachs has even predicted a $70 barrel of West Texas Intermediate (WTI) in 2015. If the price does …
DT Cochrane 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. …
Frederick H. Pitts Resonance and dissonance in the rhythms of freelance creative work In the last blog, I applied some of Nitzan and Bichler’s ideas to freelance work in the creative industries. I utilised their …
Frederick H. Pitts Creativity, sabotage and the management of risk and responsibility in freelance creative work Nitzan and Bichler theorise a dissonant relation of sabotage between power and creativity, business and industry. What they show …
Frederick H. Pitts Capital as Power, risk-aversion and the avoidance of uncertainty Mainstream critiques of contemporary capitalism conducted in the wake of the Great Recession tend to indict a number of factors. Perceived short-termism. The …
Frederick H. Pitts Rhythms of Risk and Responsibility in Freelance Creative Work This series of blogs applies Nitzan and Bichler’s theory of capital as power to the empirical concern of freelance work in the creative …
Joseph Baines How do we make sense of the role of different participants in futures markets? According to the conventional wisdom, market participants can be put into two different categories: hedgers and speculators. Hedgers, such …
DT Cochrane Canadians take pride in Tim Hortons. It is an icon of contemporary Canadiana. When news emerged that Burger King (BKW) was planning a takeover, the media was filled with stories of people’s outrage. …
Shai Gorsky This series of posts will explore some contemporary fields in “complexity science”. They summarize experiences from the Santa-Fe Institute Complex Systems Summer School 2014, with the hope of suggesting to readers useful research …
DT Cochrane The world of traders has largely been outside political economic analysis. With financial values treated as ‘fictitious’ representations of real values, trading is, at best, a distortion. The actual individuals who perform this …
DT Cochrane Harvard Medical School researchers Michelle Holmes and Wendy Chen wrote an op-ed in the New York Times about research they published in 2010 that found aspirin may be an effective treatment for breast …
Jeremy Green With the Bank of England signalling an impending interest rate rise, monetary policy has returned to centre stage. Since 2008 we have lived through a period of extremely unorthodox monetary policy characterised by …