Post by: Bichler/Nitzan
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, Israel, 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
ABSTRACT: The presidential election of Donald Trump has rekindled hopes for a U.S. recovery. The new president promises to ‘make America great again’, partly by creating many millions of new jobs for U.S. workers, and judging by the rising stock market, capitalists seem to love his narrative. But if Trump ...
In his article, ‘Food Price Inflation as Redistribution’, Joseph Baines (2014) shows the intimate correspondence between differential profit and world hunger. Figure 1 below, reproduced from his article, portrays a systematic positive correlation between the relative income of the Agro-Trader Nexus (Archer Daniels Midland, Bunge, Cargill, Deere, DuPont and Monsanto) ...
Documentation, EconoFiction, Lexicon
Wir verlinken zu einem aktuellen Text der Ökonomen Shimshon Bichler und Jonathan Nitzan, in dem sie Fragen zu beantworten versuchen, die vor allem von marxistischen Autoren immer wieder hinsichtlich ihres grundlegenden Textes “Capital as Power” gestellt werden. Da dieser Text, der 2009 erschien, im deutschsprachigen Raum bis heute weitgehend unbekannt ...
