Di Muzio & Dow, ‘Covid-19 and the Global Political Economy. Crises in the 21st Century’

Abstract Covid-19 and the Global Political Economy investigates and explores how far and in what ways the Covid-19 pandemic is challenging, restructuring, and perhaps remaking aspects of the global political economy. Since the 1970s, neoliberal capitalism has been the guiding principle of global development: fiscal discipline, privatisations, deregulation, the liberalisation of trade and investment regimes, […]

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Di Liberto, ‘Hype: The Capitalist Degree of Induced Participation’

Hype The Capitalist Degree of Induced Participation YURI DI LIBERTO April 2022 Abstract Power is usually considered as either a ‘positive’ or ‘negative’ construct, as in the power to force action versus the power to forbid it. This paper explores a hybridized approach to power based on the idea of ‘induced participation’. Building on Bichler […]

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New Briefing – Drilling Down: UK Oil and Gas Financial Performance

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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The rotten culture of the rich

Originally published at pluralistic.net Cory Doctorow In his 2019 book Dignity, Chris Arnade left his Wall Street job and traveled America, talking to poor, marginalized people, mostly at McDonald’s restaurants. Now, in a new essay for American Compass, Arnade delves into the “rotten culture of the rich.” https://americancompass.org/what-about-the-rotten-culture-of-the-rich/ Arnade starts with observations about how rich […]

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80% of Britons want happiness, not growth

Originally published at pluralistic.net Cory Doctorow A YouGov poll found 80% of Britons “would prefer the government to prioritise health and wellbeing over economic growth during the crisis, and 6 in 10 would still want the government to pursue health and wellbeing ahead of growth after the pandemic” https://www.theguardian.com/society/2020/may/10/britons-want-quality-of-life-indicators-priority-over-economy-coronavirus GDP is a terrific example 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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Bichler & Nitzan, ‘A CasP Model of the Stock Market’

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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No. 2016/07: Bichler & Nitzan, ‘A CasP Model of the Stock Market’

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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Logics AND the Logic of Accumulation

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 that grounds both mainstream and critical value theory. Instead, they emphasize the meaning of the nominal quantities of capital as […]

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Kivisto, ‘Capital as Power and the Corporatization of Education’

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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No. 2015/04: Bichler & Nitzan, ‘The CasP Project: Past, Present, Future

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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Malik, ‘The Ontology of Finance: Price, Power, and the Arkhéderivative’

Abstract In what promises to be a significant contribution to political economy, Malik seeks to combine the philosophical understanding of the nature and logic of the derivatives market with an analysis of the entirely novel, structurally-specific mode of capitalist power it expresses. This ambitious ‘ontology of finance’ supplements Ayache’s understanding of the fundamental logic of […]

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No. 2015/03: Bichler & Nitzan, ‘Capital Accumulation: Fiction and Reality’

Abstract What do economists mean when they talk about ‘capital accumulation’? Surprisingly, the answer to this question is anything but clear, and it seems the most unclear in times of turmoil. Consider the recent ‘financial crisis’. The very term already attests to the presumed nature and causes of the crisis, which most observers indeed believe […]

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Mediating the Intra-capitalist Struggle

DT Cochrane 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 […]

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Park, ‘Dominant Capital and the Transformation of Korean Capitalism: From Cold War to Globalization’

Abstract After the 1997 financial crisis, the neo-liberal restructuring of the Korean political economy accelerated dramatically. While there is a general consensus that the reform has had negative consequences for Korean society, heated debates continue over the culprits of the 1997 crisis and the changes that followed in its wake. Major opinions have largely coalesced […]

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