Bichler/Nitzan

Dominant capital is much more powerful than you think

According to the theory of capital as power (CasP), capitalists and corporations are driven not to maximize profit, but to “beat the average”. Their yardstick is not an unmeasurable theoretical abstraction, but the readily observable performance of others. Their aim …

Dominant capital is much more powerful than you think

Unbridgeable: Why Political Economists Cannot Accept Capital as Power

The theory of capital as power (CasP) is radically different from conventional political economy. In the conventional view, mainstream as well as heterodox, capital is seen a ‘real’ economic entity engaged in the production of goods and services, and capitalism …

Unbridgeable: Why Political Economists Cannot Accept Capital as Power

What Do Economists Mean When They Talk About ‘Capital Accumulation’?

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 …

What Do Economists Mean When They Talk About ‘Capital Accumulation’?

‘Growing through Sabotage: Energizing Hierarchical Power’

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 …

‘Growing through Sabotage: Energizing Hierarchical Power’

Arms and Oil in the Middle East: A Biography of Research

Abstract or Brief Description 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 …

Arms and Oil in the Middle East: A Biography of Research

The Nordhaus Racket: How to use capitalization to minimize the cost of climate change and win a ‘Nobel’ for ‘sustainable growth’

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 …

The Nordhaus Racket: How to use capitalization to minimize the cost of climate change and win a ‘Nobel’ for ‘sustainable growth’

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