Jonathan Nitzan and Shimshon Bichler Originally published on Twitter During the twilight of feudalism, wars, whose cost soared in tandem with their material scope and unit price, were the most financially demanding expenses. Changing military technologies, beginning with the crusades and continuing with the Hundred Years War, made it increasingly necessary to rely on hired […]
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Originally published on Economics from the Top Down Blair Fix In the field of ecological economics, Frederick Soddy looms large. Born in 1877, Soddy became a chemist and eventually won a Nobel prize for work on radioactive decay. Then he turned his attention to economics. Between 1921 and 1934, Soddy wrote four books that looked […]
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Note from Blair Fix: In a series of essays published in 2013 and 2014 on capitaspower.com, political economist Tim Di Muzio explored the concept of ‘sabotage’ as it applies to capitalist power. I recently rediscovered these essays and was so impressed by them that I have reposted them here as a single piece. About the […]
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Originally published on Economics from the Top Down Blair Fix I’ve always been baffled why ‘modern monetary theory’ is called a theory. I don’t mean this in a disparaging way. As far as theories of money go, I think modern monetary theory (MMT for short) is the correct one. But having a correct theory of […]
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Abstract Capitalismo de deuda es un esfuerzo por descifrar cómo la tecnología de la deuda se ha convertido en uno de los mayores obstáculos para las aspiraciones democráticas y racionales de la sociedad moderna. Richard Robbins y Tim Di Muzio muestran que la deuda, entendida como una tecnología de poder, es un engranaje insertado en […]
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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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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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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 are not loaning out other people’s money at all, but effectively creating it by entering numbers into a computer. Between […]
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