Abstract This paper considers the domestic and international ramifications of financialization and grain price instability in the US agri-food sector. It finds that during the recent period of high and volatile prices, the average income of large-scale farms reached the earnings threshold of the top percentile of US households, and agricultural commodity traders markedly outperformed […]
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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 airlines shares (UAL). Or did it? Although the incident generated a great deal of outrage on Twitter, and early in […]
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Abstract This article offers a critique of Alexander Anievas and Kerem Nişancioğlu’s “How the West came to rule: the geopolitical origins of capitalism”. We argue that while all historiography features a number of silences, shortcomings or omissions, the omissions in How the West came to rule lead to a mistaken view of the emergence of […]
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Abstract Why do institutions grow? Despite nearly a century of scientific effort, there remains little consensus on this topic. This paper offers a new approach that focuses on energy consumption. A systematic relation exists between institution size and energy consumption per capita: as energy consumption increases, institutions become larger. I hypothesize that this relation results […]
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Abstract Most explanations of stock market booms and busts are based on contrasting the underlying ‘fundamental’ logic of the economy with the exogenous, non-economic factors that presumably distort it. Our paper offers a radically different model, examining the stock market not from the mechanical viewpoint of a distorted economy, but from the dialectical perspective of […]
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Abstract Most explanations of stock market booms and busts are based on contrasting the underlying ‘fundamental’ logic of the economy with the exogenous, non-economic factors that presumably distort it. Our paper offers a radically different model, examining the stock market not from the mechanical viewpoint of a distorted economy, but from the dialectical perspective of […]
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Abstract The article reviews debates concerning financialization in South Korea, with a focus on ongoing arguments between liberal, post-Keynesian, institutionalist and Marxist economists. It argues that post-Keynesian and institutionalist perspectives in particular neglect important class processes through which the financial circuit operates within the Korean economy, especially the power of Korea’s large, family-led conglomerates, or […]
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Abstract Building on the definition of critical education residing in the crossroads of cultural politics and political economy, this theoretical article offers an inquiry into the intersection between critical education research and the central ritual of contemporary capitalism – capitalisation. This article outlines four current approaches in education research literature to the corporatisation of education. […]
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Abstract This article offers a critique of Alexander Anievas and Kerem Nişancioğlu’s How the West Came to Rule: The Geopolitical Origins of Capitalism. We argue that while all historiography features a number of silences, shortcomings or omissions, the omissions in How the West Came to Rule lead to a mistaken view of the emergence of […]
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Abstract This working paper contains an intervention by Corentin Debailleul and an extended reply by Shimshon Bichler and Jonathan Nitzan. The exchange was first posted on the Capital as Power Forum in January 2016. Debailleul’s original questions are articulated at greater length here, while Bichler and Nitzan’s reply is reproduced as is. Citation Theory and […]
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Abstract The study of capital as power (CasP) began when we were students in the 1980s and has since expanded into a broader project involving a growing number of researchers and new areas of inquiry. This paper provides a bird’s-eye view of the CasP journey. It explores what we have learned so far, reviews ongoing […]
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