Bichler/Nitzan

The 1-2-3 Toolbox of Mainstream Economics Promising Everything, Delivering Nothing

We write this essay for both lay readers and scientists, though mainstream economists are welcome to enjoy it too. Our subject is the basic toolbox of mainstream economics. The most important tools in this box are demand, supply and equilibrium. …

The 1-2-3 Toolbox of Mainstream Economics Promising Everything, Delivering Nothing

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’

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