There is little doubt that, in the last hundred years or so, progress has been made in lifting more people out of extreme poverty (World Bank 2020). Yet, considerable economic inequalities both within and between nations persists and, as recent …
Put simply, if a social credit (a sum of money) was issued by the government to its citizens and recorded as an investment rather than a debt to be repaid, there would be a lot less commercial bank debt and therefore a lot …
I contend that current discussions on what the pandemic has taught us about monetary and fiscal policy are myopic. It is the purpose of this chapter to broaden the political economy horizon so that we might think anew about pathways …
Moreover, this chapter argues that while MMT has its virtues, it too misses two very important aspects of capitalism: (1) why there is a constant aggregate demand problem in a capitalist economy and; (2) that the majority of new money creation …
Covid 19 and the Global Political Economy: Crises in the 21st Century
In sum, the last three centuries of an emergent and transforming global political economy must not be viewed teleologically – as in a linear or stadial developmentalism where some desired end is finally achieved – but as a historical exception …
This book explores the idea of human development as a tragedy from the perspective of capitalist power. Although the argument of this book draws heavily on critical political economy, the analysis considers interdisciplinary literature in an effort to explore how …
The Tragedy of Human Development. A Genealogy of Capital as Power
This is a similar tale to the one experienced by British engineer Major C.H. Douglas just before the outbreak of World War I. Douglas was working on the London tube when his superiors announced that there was no more public …
Covid-19 Capitalism, Neoliberal Debt & the Need for Sovereign Money
Liberal capitalist polities are being held up as the ultimate civilizational achievement precisely at a point in time when the energy-demanding built environments and growth imperatives of these societies are threatened by global climate change and the coming end of …
Capitalizing a future unsustainable: Finance, energy and the fate of market civilization
Note from Blair Fix: In a series of essays published in 2013 and 2014 on capitaspower.com, political economist Tim Di Muzio explored the concept of ‘sabotage’ as it applies to capitalist power. I recently rediscovered these essays and was so impressed …
In this regard, it is important to realize that, while debt is a technology of power, and that creditors exercise an inordinate amount of control over debtors, the wealth of the 1% lies largely in the pockets of the 99% …
Tim Di Muzio & Richard Robbins This article seeks to contribute to the existing critical debates on money and debt by advancing three main arguments. First, largely due to such debates’ tendency for description, the article argues that in in …
But while some claim that there is nothing new under the sun, in an interesting turn of events over the last few day of January 2021, some hedge fund managers on Wall Street became the ‘unusual suckers’, losing billions of …