EconoFiction

Circulation

21 Aug , 2019  

Circulation is a concept and category Marx uses to analyze capital as a process in addition to or, rather than, a relation. Marx’s analysis of the circulation process is challenging, which in part is due to the polysemy of circulation as a concept.

read here ...

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EconoFiction

What is to be Done?

18 Aug , 2019  

What is to be Done? Plenary speech at the 14th annual conference of the world Association for political economy, winnipeg, 19th July 2019

Alan Freeman

The conference title is ‘Class, State and Nation’. My title is ‘What is to be done?’, a steal from Lenin, but at historical moments like ...

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EconoFiction

Die 24/7 Maschine (1)

15 Aug , 2019  

»Die Rhythmen des Lebens, das Auf und Ab der Natur und des Alltags müssen verschwinden in dieser Welt; für die Schwäche und Unzulänglichkeit menschlicher Zeit, ihre diffusen und verschlungenen Strukturen«, so schreibt Jonathan Cray, sei in dem global-digitalen-24/7-System kein Platz mehr. Der 24/7-Modus hat längst eine entzauberte Welt ohne jedes ...

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EconoFiction

Why even do political finance with Deleuze?

13 Aug , 2019  

Any heterodox project is compelled to begin by articulating a problem or set of problems it proposes to address (otherwise why heterodoxically begin at all?). When studying finance at our present moment, the particular problem to which we are alerted is a political economic problem whose particularity Deleuze as a ...

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EconoFiction

Im Resonanzraum der Supermärkte

10 Aug , 2019  

Das Einkaufszentrum

Warum heute noch Baudrillard lesen? Sicherlich sind heute viele der poststrukturalistischen Texte, die oft genug als Science-Fiction-Texte wahrgenommen wurden, paradoxerweise »dated«, und manche der Texte von Baudrillard, sieht man einmal davon ab, dass es generelle Zweifeln an seiner Simulationstheorie gibt, sind da wirklich keine Ausnahme.1 Aber doch sind ...

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EconoFiction

Capitalism, financial system and forms of exploitation

9 Aug , 2019  

Spyros Lapatsioras/John Milios/Dimitris P. Sotiropoulos

Financial intermediation is a sui generis service itself and is therefore a productive activity striving for profit maximization, like any other sector of the capitalist economy.

read here ...

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EconoFiction

Value, Fictitious Capital and Finance.The timeliness of Karl Marx’s Capital

9 Aug , 2019  

Capitalism was always, and will never cease to be exploitative, domineering, speculative. But it will not disintegrate or decay due to its exploitative, domineering, speculative character, certainly not due to the supposedly specifically “predatory” function of the financial sphere – as opposed to the “productive role of industry”. It will ...

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EconoFiction

Zum Kapitalbegriff bei Peter Streckeisen: Soziologische Kapitaltheorie. Marx, Bourdieu und der ökonomische Imperialismus

30 Jul , 2019  

Der Schweizer Soziologe Peter Streckeisen will „das Marx’sche Hauptwerk mit soziologischer Brille so neu lesen, dass es zur Inspirationsquelle einer Kritik an den üblichen Kapitalbegriffen sowie der konzeptuellen Schärfung und Weiterentwicklung soziologischer Kapitaltheorie werden kann“. (S. 14)

Nachdem er vier „Elemente einer soziologischen Lektüre des Kapitals“ (von Marx) vorgetragen ...

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EconoFiction

Gilets Jaunes im globalen Kontext

29 Jul , 2019  

Dies ist ein erster Versuch, die Bewegung der gilets jaunes zu verstehen und sie auf den Kontext übergreifender Zusammenhänge zu beziehen. Wir müssten nun, unseren sozialrevolutionären Grundsätzen und Methoden folgend, an den Äußerungen aus dieser Bewegung anknüpfen um von hier aus das Verhältnis zu ihrem Umfeld erschließen. Denn so sehr ...

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EconoFiction

THE SPECULATIVE CAPITAL (3)

29 Jul , 2019  

Nothing exemplifies the constitution of the market and motivations today more than speculation. The drive to permanently generate this type of derivative bet, which has marked the Euro-American financial markets since the 1970s, would never have been able to circulate in these vast dimensions unless there was a specific derivative framework: ...

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EconoFiction

THE SPECULATIVE CAPITAL (2)

28 Jul , 2019  

LiPuma examines in a further section the various institutions of speculative capital. The first area is commercial and investment banks speculating on the derivatives markets. These companies have in-house hedge funds that speculate on corporate capital, that is, shareholder capital, using leveraged strategies to increase shareholder value. Other players include the independent hedge ...

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EconoFiction

Ultra-Left FAQ

27 Jul , 2019  

The negation of work is the name of the process which abolishes work. The conversation around the abolition of work can get confusing because different theorists who write on this subject sometimes use the terms labor & work interchangeably, while others have specific definitions for each term.

Though this is ...

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EconoFiction

THE SPECULATIVE CAPITAL (1)

26 Jul , 2019  

Here we present in three parts a preliminary report to the book The Speculative Capital , which contains the first comprehensive study of a new form of capital that dominates the economies of the 21st century. In this report, we often refer to LiPuma’s book The Social Life of Financial Derivatives: ...

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EconoFiction

THE AGE OF SPECULATIVE CAPITAL AND GLOBAL CIRCULATION FIGHTS

25 Jul , 2019  

Michel Feher claims in his new book, Rated Agency, that capitalized capitalism, which started in 1970, is akin to a Copernican revolution in that the new regime of capital accumulation no longer focuses on industrial companies based on vertical integration and internal growth, but on this regime both companies as ...

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EconoFiction

Gibt es einen maschinellen Mehrwert?

23 Jul , 2019  

Nicht das Problem um die Übertragung des Werts bzw. der Reproduktion des Wertanteils des fixen Kapitals, das Marazzi in seinem Essay Die Amortisation der Körper-Maschine (Marazzi 2012: 35ff.) behandelt (dem zufolge das konstante Kapital durch die Operation der Übertragung zweimal produziert wird), steht hier im Vordergrund, sondern unter anderen Gesichtspunkten ...

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EconoFiction

WORLD MARKET, GOVERNANCE AND STATE PARANOIA

23 Jul , 2019  

In a text from 1973, which appeared in the Kursbuch, the sociologist Manfred Clemenz has introduced the concept of structural state fascism, the author assumes that there are no fundamental functional differences between the forms of parliamentary democracy and the fascist states of exception, but just only phenomenological changes are ...

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EconoFiction

CAPITAL IS FINANCE – THE FOUNDATIONS OF A MARXIST FINANCIAL THEORY

22 Jul , 2019  

The “financial deregulation” since the 1970s has paradoxically in themselves the capacity and increase the demand for regulation, regulatory instruments, and regulatory agencies. The strengthening of market mechanisms at all levels requires a number of public, sub-state, and especially private, companies and institutions whose duplication and dissemination take on the ...

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EconoFiction

SPECULATIVE TIME, DEBT AND CLASS POLITICS

21 Jul , 2019  

Many of the catchy testimonies of critical sociologists, ranging from Richard Sennett to Elena Esposito, are that the future is always some distance from the present, protected from the here and now and not as an economic resource in the world Present in the markets should be traded. The ...

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EconoFiction

“US Can No Longer Create a Stable Hegemonic Presence for Profits” – In Conversation with Michael Hardt1

20 Jul , 2019  

In recent weeks, the tensions between the United States and Iran have threatened the West Asia with a new war. The representations and coverage of “the evidence” about the threat of the Islamic Republic of Iran have reminded many American journalists of the period leading up to the 2003 Iraq ...

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EconoFiction

The Time of Crisis

28 Feb , 2019  

This text with images was originally presented at the Historical Materialism New York conference in May of 2011. Given the context, the text does not go into the sort of detail the matter really requires. A longer version is likely destined for an anthology of writings on contemporary tactics, strategy, ...

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EconoFiction

Die Marx`sche Theorie der Maschine

25 Feb , 2019  

Mit dem Verweis auf die Phylogenese der Maschinen, die von den komplexen Werkzeugen über die durch Motoren angetriebenen Maschinen bis hin zum Automaten reicht, verbindet Marx immer eine durch das Kapital geprägte Genealogie des Technischen und setzt sich damit deutlich von einer transhistorischen Evolutionstheorie der Technik ab. Marx schreibt: »Die ...

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EconoFiction

Human capital or toxic asset

24 Feb , 2019  

This is a sequence of reflections on affirmation and negation, on identification and severance: determinate negation as strategic affirmation, the identification of concrete universals and severance from a defunct relation. These lines will be explored with reference to the current situation of the waged and unwaged working class, most proximately ...

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EconoFiction

On the Question of Money Endogeneity: Marx vs. the Post-Keynesians

24 Feb , 2019  

This paper argues that the conception of ‘money endogeneity’ formulated and defended by Post-Keynesian economists can be founded on a coherent and theoretically sound way only on the basis of Marx’s theory of value, which the author comprehends as the par excellence monetary value theory. The Marxist reformulatio of the ...

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