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, we argue, begins with the very Continue Reading
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
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 capitalized Continue Reading
Resonance and dissonance in the rhythms of freelance creative work In the last blog, I applied some of Nitzan and Bichler’s ideas to freelance work in the creative industries. I utilised their conceptualisation of the distinction between creativity and power, and of the sabotage of the former by the latter. Nitzan and Bichler describe the Continue Reading
Creativity, sabotage and the management of risk and responsibility in freelance creative work Nitzan and Bichler theorise a dissonant relation of sabotage between power and creativity, business and industry. What they show is that the control of creative processes of production is not antithetical to their success. Rather, it is constitutive of this success in Continue Reading
Capital as Power, risk-aversion and the avoidance of uncertainty Mainstream critiques of contemporary capitalism conducted in the wake of the Great Recession tend to indict a number of factors. Perceived short-termism. The dangerous compulsion to speculate. An attraction to growth for growth’s sake. The propensity towards the greedy and rapid accumulation of riches. But other Continue Reading
Rhythms of Risk and Responsibility in Freelance Creative Work This series of blogs applies Nitzan and Bichler’s theory of capital as power to the empirical concern of freelance work in the creative industries. It reports some findings from a research project I conducted earlier this year. The research was part of a three month Short-Term Continue Reading
Royal Authority and Private Property Last week we considered the concept of ownership though the work of Veblen and Marx. We noted that the establishment and protection of private property involved the dispossession of the many by the few and that this tendency begins with the appropriation of humans (slavery) and land for private profit. Continue Reading
Found amongst some recent market commentary the chart above seems to be quite striking evidence in favour of the Capital as Power framework. The data series have been put together by the investment bank UBS, based on their broad (though not comprehensive) global stock coverage. UBS has charted two lines: a) the stock market returns Continue Reading
Welcome to a weekly investigation into the fascinating world of corporate sabotage where human creativity, cooperation, mutual aid and well-being are all held ransom for the profit and power of dominant owners. Every week this column will explore various aspects of what Veblen called ‘strategic sabotage’. But first, a bit of context. It appears that Continue Reading
