Originally published at sbhager.com Sandy Brian Hager Joseph Baines and I have a new briefing with Common Wealth examining the financial performance of UK oil and gas producers and energy suppliers. Some of the key findings include: The two UK-headquartered supermajors – BP and Royal Dutch Shell – have remained profitable over the past decade, […]
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Originally published at sbhager.com Sandy Brian Hager In a new briefing with Common Wealth, Miriam Brett, Joseph Baines and I examine ownership and financial data for the “Big Six” UK energy companies: Centrica (British Gas), EDF Energy, E.ON UK, NPower, Scottish Power and SSE. We found that: Privatisation since the late-1980s transferred wealth from the […]
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Abstract This paper argues that the ability of dominant corporations in the fossil fuel and other polluting industries to shape government policy on climate change and energy issues is directly related to their financial interests in particular countries, and emblematic of the crippling effect which they have exercised on the ability of nation states to […]
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Originally published on Economics from the Top Down Blair Fix They called him the ‘Little Emperor’. Romulus Augustus — better known as Romulus ‘Augustulus’ (‘Little Augustus’) — was the last Western Roman Emperor. He assumed the throne at the age of 16 during a period of unprecedented strife. There had been 8 emperors in the […]
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Originally published on Economics from the Top Down Blair Fix If it is very easy to substitute other factors for natural resources, then there is in principle no “problem”. The world can, in effect, get along without natural resources. — Robert Solow, 1974 In the distant future, aliens come to Earth. They find a planet […]
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Abstract Humanity’s most pressing need is to learn how to live within our planet’s boundaries — something that likely means doing without economic growth. How, then, can we create a non-growth society that is both just and equitable? I attempt to address this question by looking at an aspect of sustainability (and equity) that is […]
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Originally published on Economics from the Top Down Blair Fix Governments are different than firms, right? Perhaps not. In Part 1 of this series, I argued that when it comes to size, governments behave like they’re ‘just another firm’. In this post, I’m going to extend the evidence. I’ll first show you that as economies […]
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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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Abstract Neoclassical economists fundamentally misunderstand the role of natural resources in the economy. I discuss here the source of this misunderstanding, and the ways we can better understand the role of energy to human societies. Citation Can the World Get Along Without Natural Resources? Fix, Blair. (2020). Working Papers on Capital as Power. No. 2020/05. […]
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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 ‘growth in the midst of sabotage’? The answer, we argue, begins with the […]
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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 to shake your faith. No, I’m not going to argue that free markets are bad. Instead, I’m going to show […]
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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 Dark), I had described my struggle to understand how the size of firms and governments changes with energy use. It […]
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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 get in journals. Most scientific articles obey a formula that goes like this: Here is the question I asked. Here […]
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Abstract Where should we look to understand the origin of inequality? I propose an unusual window of evidence — modern societies. I hypothesize that evidence for the origin of inequality is encoded in the institutional structure of industrial societies. To test this idea, I use a model to project modern trends into the past. This […]
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Abstract Where should we look to understand the origin of inequality? Most research focuses on three windows of evidence: (1) the archaeological record; (2) existing traditional societies; and (3) the historical record. I propose a fourth window of evidence — modern society itself. I hypothesize that we can infer the origin of inequality from the […]
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The CasP Project Past, Present and Future SHIMSHON BICHLER and JONATHAN NITZAN April 2018 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 […]
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Abstract What is the unit of analysis in economics? The prevailing orthodoxy in mainstream economic theory is that the individual is the ‘ultimate’ unit of analysis. The implicit goal of mainstream economics is to root macro-level social structure in the micro-level actions of individuals. But there is a simple problem with this approach: our knowledge […]
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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 ‘growth in the midst of sabotage’? The answer, we argue, begins with the […]
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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 Until late, the subject of energy and its importance for capitalism and the constitution and reconstitution of world order has been sorely overlooked in the international political economy (IPE) literature. Indeed, only two of the major textbooks in IPE have chapters on energy. This is also true of the literature known as classical political […]
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