Growing Through Sabotage

Shimshon Bichler and Jonathan Nitzan 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, […]

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2020/04: McMahon, ‘Reconsidering Systemic Fear and the Stock Market: A Reply to Baines and Hager’

ABSTRACT A recent New Political Economy article by Baines and Hager (2020) critiqued Shimshon Bichler and Jonathan Nitzan’s capital-as-power (CasP) model of the stock market (Bichler & Nitzan, 2016). Bichler and Nitzan’s model of the stock market seeks to explain how financial crises are tied to the (upper) limits of redistributing income through power. Bichler […]

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2020/01: Fix, ‘Economic Development and the Death of the Free Market’

ABSTRACT Free markets are, according to neoclassical economic theory, the most efficient way of organizing human activity. The claim is that individuals can benefit society by acting only in their self interest. In contrast, the evolutionary theory of multilevel selection proposes that groups must suppress the self interest of individuals. They often do so, the […]

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Fix, 'An Evolutionary Theory of Resource Distribution'

ABSTRACT This paper explores how the evolution of human sociality can help us understand how we distribute resources. Using ideas from sociobiology, I argue that resource distribution is marked by a tension between two levels of natural selection. At the group level, selfless behavior is advantageous. But at the individual level, selfish behavior is advantageous. […]

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Fix, 'Personal Income and Hierarchical Power'

ABSTRACT This article examines the relation between personal income and hierarchical power. In the context of a firm hierarchy, I define hierarchical power as the number of subordinates under an individual’s control. Using the available case-study evidence, I find that relative income within firms scales strongly with hierarchical power. I also find that hierarchical power […]

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The Allure of Marxism … And Why It’s a Mistake

Originally published on Economics from the Top Down. Karl Marx is probably the most important social scientist in history. But while his influence is beyond compare, Marx’s legacy is, in many ways, disastrous. Few thinkers have inspired so many people to commit crimes against humanity. Think of Stalinist gulags. Think of the Ukrainian famine of […]

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As it Dies, We Talk About the ‘Free Market’ More

Originally published on Economics from the Top Down. In The Growth of Hierarchy and the Death of the Free Market, I argued that economic development involves killing the free market. What was the evidence? As energy use increases, so does the relative number of managers. This growth of managers, I argued, indicates that economic development […]

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2019/04: Hager and Baines, 'Jurisdictional Tax Rates: How the Corporate Tax System Fuels Concentration and Inequality'

ABSTRACT Corporate concentration in the United States has been on the rise in recent years, sparking a heated debate about its causes, consequences, and potential remedies. In this study, we examine a facet of public policy that has been largely neglected in current debates about concentration: corporate tax policy. As part of our analysis we […]

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Sharp, 'Corporate Urbanization: Between the Future and Survival in Lebanon'

ABSTRACT If you look today at the skyline of downtowns throughout the Middle East and beyond, the joint-stock corporation has transformed the urban landscape. The corporation makes itself present through the proliferation of its urban mega-projects, including skyscrapers, downtown developments and gated communities; retail malls and artificial islands; airports and ports; and highways. Built into […]

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