December 16, 2016

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 …

September 1, 2016

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 …

June 7, 2016

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 …

May 4, 2016

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 …

April 15, 2016

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, …

April 14, 2016

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 …

April 12, 2016

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 …

April 5, 2016

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 …

April 4, 2016

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 …

December 24, 2015

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 …

December 1, 2015

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 …

November 30, 2015

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 …

July 11, 2015

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 …

July 3, 2015

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 …

May 11, 2015

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 …

April 28, 2015

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 …

February 21, 2015

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 …

February 13, 2015

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 …

December 10, 2014

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’ …

December 10, 2014

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 …

November 27, 2014

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 …

November 18, 2014

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. …

November 17, 2014

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 …

October 31, 2014

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 …

October 17, 2014

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 …

October 8, 2014

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 …

September 25, 2014

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 …

September 5, 2014

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. …

August 20, 2014

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 …

August 11, 2014

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 …

July 25, 2014

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 …

July 16, 2014

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 …

July 8, 2014

DT Cochrane The replacement of labour by machines has brought many improvements in social well-being. New machines have made a wide variety jobs safer and less physically debilitating. Yet, the process is far from decisively …

June 26, 2014

Joseph Baines The corn-ethanol boom represents one of the most dramatic changes in the world food system in recent decades. The ethanol sector now absorbs around 40% of the corn produced in the US. Surging …

June 15, 2014

James McMahon John Oliver, a former correspondent for The Daily Show with Jon Stewart, now has his own HBO show. Like what he did on The Daily Show, Oliver’s Last Week Tonight brings irreverence and …

June 12, 2014

DT Cochrane What is a tree worth? Is this a question you’ve ever pondered? Does it seem like an odd question? Perhaps it seems like an inappropriate question? How could someone possibly attach a financial …

April 24, 2014

Tim Di Muzio The Privatization of Money: The Greatest Sabotage in Human History? Part II Last time we found out that modern money is created when commercial banks make loans to people and businesses. They …

April 1, 2014

DT Cochrane Television personality Kevin O’Leary is best known as the ‘asshole’ on the investment reality shows Dragon’s Den, in Canada, and Shark Tank, in the United States. The shows have self-styled entrepreneurs bring forth …

March 5, 2014

Tim Di Muzio The Capitalization of Money Creation: The Greatest Sabotage in Human History? Every year in my course on Political Economy in the New Millennium I ask my students to do an exercise. The …

February 27, 2014

Ilirjan Shehu Speaking to students in Jakarta, Indonesia, US Secretary of State, John Kerry, declared a few days ago that climate change is the world’s “most fearsome” weapon of mass destruction. Likening climate change to …

February 25, 2014

James McMahon Over at Heterodox Microeconomics Research Network they have a thorough list of academic publications that are relevant to heterodox theories of capitalism. The list covers the following subjects: History and Methodology of Heterodox …

February 13, 2014

Eric George Since 2012, the U.S Department of Justice has launched a series of private negotiations with Wall Street banks relating to their involvement in the 2008 financial crisis. The DoJ made headlines this November …

February 4, 2014

Sandy Hager In an interesting piece for the Financial Times, Christopher Caldwell assesses Obama’s declaration to ‘go it alone’ in light of the ‘obstructionist Republican agenda’ in the US Congress. In a recent State of …

February 3, 2014

Tim Di Muzio The Constitution of the United States of America It is by now fairly clear that the Congress of the United States is a ‘do-nothing’ Congress populated by 268 millionaires (out of 534 …

January 14, 2014

DT Cochrane Toronto’s Pearson Airport was recently thrown into chaos when bad weather forced it to suspend ground operations. For eight hours, hundreds of flights scheduled to land and take-off were unable to do so. …

January 12, 2014

DT Cochrane The title of this piece might make readers think of capitalist power over the masses. However, in this case, I’m thinking of how capital serves to discipline the decision-makers of capitalism. A recent …

January 12, 2014

Ilirjan Shehu Brussels Business is a documentary about the important role dominant capital has played in the shaping of the European Union from its early days. It explores the secretive activity of big business and …

January 5, 2014

Tim Di Muzio Royal Authority and Private Property Last week we considered the concept of ownership though the work of Veblen and Marx. We noted that the establishment and protection of private property involved the …