Differential Taxation: The Case of American Banking

Mladen Ostojić Abstract This paper maps an empirical history of corporate profit and taxation in the United States, with a special focus on the differential profit and taxation of banks relative to other corporations. An examination of these trends reveals a striking anomaly within the American banking sector: from the early 1980s until the financial […]

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Growing Through Sabotage

Growing Through Sabotage Energizing Hierarchical Power SHIMSHON BICHLER and JONATHAN NITZAN June 2020 Abstract According to the theory of capital as power, capitalism, like any other mode of power, is born through sabotage and lives in chains — and yet everywhere we look we see it grow and expand. What explains this apparent puzzle of […]

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Propertization: The Process by which Financial Corporate Power has Risen and Collapsed

Propertization The Process by which Financial Corporate Power has Risen and Collapsed JONGCHUL KIM September 2018 Abstract Elsewhere I argue that the legal concept of property was created in the image of money in the late Roman Republic. Since then, the division of property and contract has been an underlying structure of Western law. The […]

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Theory and Praxis, Theory and Practice, Practical Theory

Theory and Praxis, Theory and Practice, Practical Theory CORENTIN DEBAILLEUL, SHIMSHON BICHLER and JONATHAN NITZAN April 2018 Abstract In their paper ‘The CasP Project: Past, Present and Future’, Shimshon Bichler and Jonathan Nitzan invite readers to engage critically with their theoretical framework, known as capital as power (CasP). This call for further research, reactions and […]

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Putting Power Back into Growth Theory

Putting Power Back Into Growth Theory BLAIR FIX June 2015 Abstract Neoclassical growth theory assumes that economic growth is an atomistic process in which changes in distribution play no role. Unfortunately, when this assumption is tested against real-world evidence, it is systematically violated. This paper argues that a reality-based growth theory must reject neoclassical principles […]

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Can Capitalists Afford Recovery?

Can Capitalists Afford Recovery? Three Views on Economic Policy in Times of Crisis JONATHAN NITZAN and SHIMSHON BICHLER October 2014 Abstract Economic, financial and social commentators from all directions and of various persuasions are obsessed with the prospect of recovery. The world remains mired in a deep, prolonged crisis, and the key question seems to […]

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Wal-Mart’s Power Trajectory: A Contribution to the Political Economy of the Firm

Wal-Mart’s Power Trajectory A Contribution to the Political Economy of the Firm JOSEPH BAINES March 2014 Abstract This article offers a power theory of value analysis of Wal-Mart’s contested expansion in the retail business. More specifically, it draws on, and develops, some aspects of the capital as power framework so as to provide the first […]

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The Rise of a Confident Hollywood: Risk and the Capitalization of Cinema

The Rise of a Confident Hollywood Risk and the Capitalization of Cinema JAMES MCMAHON February 2013 Abstract This paper investigates the historical development of risk in the Hollywood film business. Using opening theatres as a proxy for future expectations, the paper demonstrates how, from 1981 to 2011, Hollywood has improved its ability to predict the […]

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The Buy-to-Build Indicator: New Estimates for Britain and the United States

The Buy-­to-­Build Indicator New Estimates for Britain and the United States JOSEPH A. FRANCIS October 2013 Abstract This note presents new long-term estimates of what Jonathan Nitzan and Shimshon Bichler have named the ‘buy-­to-­build indicator’, which is calculated as the value of mergers and acquisitions as a percentage of gross capital formation. Keywords Britain, buy-to-build […]

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Francis’ Buy-to-Build Estimates for Britain and the United States: A Comment

Francis’ Buy-to-Build Estimates for Britain and the United States A Comment SHIMSHON BICHLER and JONATHAN NITZAN October 2013 Abstract Comments on Francis’ new estimates of the buy-to-build indicator for the United States and Britain. These estimates offer a welcome correction, modifications and additions to the U.S. numbers that we first presented in 1999 and later […]

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The 1%, Exploitation and Wealth

The 1%, Exploitation and Wealth Tim Di Muzio interviews Shimshon Bichler and Jonathan Nitzan SHIMSHON BICHLER, JONATHAN NITZAN and TIM DI MUZIO September 2012 Abstract Tim Di Muzio interviews Shimshon Bichler and Jonathan Nitzan about how their ‘capital as power’ framework fits with the Occupy Wallstreet movement, the Marxist theory of exploitation, and the origins […]

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