Post by: Bichler/Nitzan
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 ...
capital, Capital as Power, capitalisation, power, sabotag, Stock Market
THE MISMATCH THESIS: What do economists mean when they talk about “capital accumulation”? Surprisingly, the answer to this question is anything but clear, and it seems the most unclear in times of turmoil. Consider the “financial crisis” of the late 2000s. The very term already attests to the presumed nature ...
8Growing Through SabotageThe CasP project has identified numerous such paths of differential accumulation through strategic sabotage. A partial list of these paths includes higher unemployment that redistrib-utes income in favour of capitalists (Bichler and Nitzan 2014a); decelerating employment growth that shifts income in favour of the top 1% of individuals ...
capital, Capital as Power, differential accumulation, energy, sobatage
Can Trump reverse or even dent this long-term evisceration of “America”? The short answer is no. So far, his policies have only hastened this evisceration, accelerating the upward redistribution of income and amplifying the de-Americanization of U.S. corporations. During his three years in office, the share of foreign profit, instead ...
Capital as Power, differential profits, foreign profits, profitrate, Trump
Until a few months ago, the stock market narrative in the United States could have been summarized by the popular acronym BTFD – or ‘buy the fucking dip’. Analysts and strategists, emboldened by the world’s synchronized recovery, Trump’s pro-business policies and ample liquidity, predicted that equities would continue rising and ...
This essay interweaves two stories—one theoretical and empirical, the other autobiographical. The first story embeds the Israeli-Palestinian conflict in the broader political economy of the Middle East and the global accumulation of “capital as power.” The second story narrates the authors’ personal journey to uncover, theorize, ...
Capital as Power, differential accumulation, Middle East, oil, petrodollar
The LA Times called the bluff: William D. Nordhaus won the Nobel prize in economics for a climate model that minimized the cost of rising global temperatures and undermined the need for urgent action.
‘The economics Nobel went to a guy who enabled climate change denial and delay’:
It has ...
Capital as Power, capitalisation, crises, fear index, Stock Market
The capitalization ritual consists of discounting riskadjusted expected futur e earnings to their present value. The reduction involves fourelementary particles: (1) future earnings, (2) investors’ hype regarding these earnings, ( 3) risk perceptions associated with earnings estimates and (4) the normal rate of return. When measured differentially, each elementary particle ...
capital, Capital as Power, capitalisation, Castoriadis, dominant capital, finance, Magma, marxism
There is a lot of buzz about Trump’s recently launched trade wars, but much of this buzz misses the point. The key issue here is not foreign trade, but foreign investment.
Foreign trade contributes relatively little to US corporate profit. The disaggregate data here are patchy, but if we can ...
capitalism, foreign investment, foreign trade, imperialism, protectionism, trade war, Trump, world market
This research note updates selected charts from three previous papers. The new data present a rather startling picture, suggesting that the Middle East – and the global political economy more generally – might face an important crossroads. Our assessment here rests on the analysis of capital as power, or CasP. ...
capitalism, Middle East, oil, Weapondollar-Petrodollar Coalition
Suggested citation:
Shimshon Bichler, Jonathan Nitzan and Tim Di Muzio (2012), ‘The 1%, Exploitation and Wealth: Tim Di Muzio interviews Shimshon Bichler and Jonathan Nitzan’, Review of Capital as Power, Vol. 1, No. 1, pp. 1-22.
The 1%, Exploitation and Wealth:
Tim Di Muzio interviews Shimshon Bichler and Jonathan Nitzan ...
capital, Capital as Power, capitalism, finance, marxism, money
