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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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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Abstract The United States is often hailed as the world’s largest ‘free market’. But this ‘free market’ is also the world’s largest penal colony. It holds over seven million adults – roughly five per cent of the labour force – in jail, in prison, on parole and on probation. Is this an anomaly, or does […]
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