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 Continue Reading

Fix, 'Energy and Institution Size'

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 Continue Reading

Bichler and 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 Continue Reading

Park and Doucette, 'Financialization or Capitalization? Debating Capitalist Power in South Korea in the Context of Neoliberal Globalization'

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 Continue Reading

No. 2015/04: Bichler and Nitzan, “The CasP Project: Past, Present, Future”

Working Paper No. 2015/04 Shimson Bichler and Jonathan Nitzan, “The CasP Project: Past, Present, Future” 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 Continue Reading

No. 2015/01: Hager, "Public Debt as Corporate Power"

Working Paper No. 2015/01 Sandy Brian Hager, “Public Debt as Corporate Power” In various writings Karl Marx made references to an ‘aristocracy of finance’ in Western Europe and the United States that dominated ownership of the public debt. Drawing on original research, this paper offers the first comprehensive analysis of the pattern of public debt Continue Reading

No. 2014/05: Fix, "Putting Power Back Into Growth Theory" (Winner of the 2014 RECASP Essay Prize)

Working Paper No. 2014/05 Blair Fix, “Putting Power Back Into Growth Theory” * Winner of the 2014 RECASP Essay Prize * Neoclassical growth theory assumes that economic growth is an atomistic process in which changes in distribution play no role. Unfortunately, when this assumption is tested against real-world evidence, it is systematically violated. This paper Continue Reading