Mediating the Intra-capitalist Struggle
August 14, 2013
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 … Read more
Decapitalization of the human genome
June 13, 2013
The U.S. Supreme Court has ruled that pieces of the human gene cannot be patented. The ruling invalidated two high profile cancer detection patents awarded to Myriad Genetics (MYGN). The ruling upheld the patenting of synthetic DNA. This partial decapitalization of the human genome showed up as decumulation by the company. Compared to the one … Read more
June 13, 2013
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 … Read more
Radiolab: Nanoseconds on the Market
June 3, 2013
The second part of this episode of Radiolab talks about the importance of nanoseconds when it comes to profitably making trades. The importance of this small difference led to a land grab as traders tried to get as close to the NYSE’s physical trading floor, since each foot of fiber optic cable between the trader … Read more
The Buy-to-Build Indicator: New Estimates and Comment
June 3, 2013
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, … Read more
Protest and gold deccumulation
June 2, 2013
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, … Read more