1. Introduction In 2012, we published a paper in the Journal of Critical Globalization Studies titled ‘Imperialism and Financialism: The Story of a Nexus’. Our topic was the chameleon-like Marxist notion of imperialism and how its different theories related to finance. Here is the article’s […]
Over the past century, the nexus of imperialism and financialism has become a major axis of Marxist theory and praxis. Many Marxists consider this nexus to be a prime cause of our worldly ills, but the historical role they ascribe
Imperialism and Financialism. A Story of a Nexus
This note contextualizes the ongoing U.S. policy shift toward greater ‘regulation’ of large corporations. Cory Doctorow (2021) and Blair Fix (2021) are optimistic about this shift. We doubt it. 1. The Limits of Power Large U.S.-based corporations are extremely powerful, but the growth of their
Dominant Capital and the Government
An Invited-then-Rejected Interview with Shimshon Bichler and Jonathan Nitzan The CasP approach 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
Colin Harrison writes about power in present-day capitalism. His thrillers intersect and fuse finance, crime and ruthless violence. They are technically precise, written with panache and make you eager to turn the page. Of course, Harrison is hardly the first
We have just updated the charts in our 2014 RWER paper ‘Still About Oil?’, and the picture they portray reads like a capitalist call for arms. Beginning in the late 1980s, we suggested that, since the late 1960s, the Middle East was greatly influenced
Profit Warning: There Will be Blood
Judging by the yardsticks that matterthe most, though–namely,the companies’relative profi tand relative capitalization–pharmaceuticals are doing just fine. In fact, based on these yardsticks, they remain the most powerful corporate sector of all. read here
Pharmaceuticals: Beating the Hell Out of the Average
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
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
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
Corporate power in the United States has risen to unprecedented levels, but the rate at which this power has grown is decelerating. Both facts have important implications for the future of U.S. capitalism. read here
Corporate Power and the Future of U.S. Capitalism
Until the late 2000s, our work focused primarily on why capitalism should be understood as a mode of power. We argued that capital itself is a form of organized power and researched how capitalists sustain, defend and augment their capitalized
The Limits of Capitalized Power: A 2020 U.S. Update