EconoFiction

Joseph Schumpeter and the German Historical School

2 Jul , 2020  

Undoubtedly, Joseph Alois Schumpeter ‘was one of the greatest economists of all time’ (Haberler, 1950, p. 1) who made seminal contributions to economics and had a major impact on the development of the discipline in the twentieth century. However, some important aspects of his works remain less widely discussed.

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EconoFiction

Am Horizont: Die nächste Finanzkrise

15 Jun , 2020  

Es ist weitgehend bekannt, dass die Coronavirus-Pandemie für die Wirtschaft unterbrochene Lieferketten, Rekordarbeitslosigkeit, gescheiterte Kleinunternehmen und weitere Armut der Massen mit sich bringt. All diese Faktoren sind ernst zu nehmen und werden die westlichen Industrieländer in eine tiefe und lang anhaltende Rezession stürzen. Aber es gibt auch noch eine andere ...

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EconoFiction

Anmerkungen zu Jason W. Moore: Kapitalismus im Lebensnetz (2015/2020) und Raj Patel und Jason W. Moore: Entwertung (2017/2018)

6 Jun , 2020  

Moore´s Reflexion des Naturbegriffs und die Zurückweisung aller cartesianisch-dualistischen Abstraktionen wie Mensch vs. Natur sowie eines ahistorisch gedachten Verständnisses von Natur ist zweifellos eine richtige Anstrengung, die unter dem Aspekt zunehmender und heftiger werdender Krisen immer wichtiger wird.

Leider ist die ökonomische Lektüre seiner Analyse etwas schwierig, weil er ...

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EconoFiction

COVID Life and the Asset Economy

28 Mai , 2020  

Lisa Adkins and Martijn Konings

Following the 2007/08 financial crisis the creation of a less unequal and fairer world appeared to be a major prospect. As is by now all too familiar, after the financial crisis, instead of becoming more progressive, societies turned out to be more unequal, with inequalities ...

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EconoFiction

Capitalisation is debt production sui generis

26 Mai , 2020  

Dieter Schnass writes in the context of the EU’s current aid measures in an article in Wirtschaftswoche that infinite debt is the business basis of the capitalist system: “… Without stimulus from governments and central banks the world economy would be stuck for years “in a deflationary labyrinth”. What is ...

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EconoFiction

Kapitalisierung ist Schuldenproduktion sui generis

25 Mai , 2020  

Dieter Schnass schreibt im Kontext der aktuellen Hilfsmaßnahmen der EU in einem Artikel in der Wirtschaftswoche, dass die infinite Verschulden die Geschftsgrundlage des kapitalistischen Systems sei: “… Ohne Stimuli der Regierungen und Notenbanken würde die Weltwirtschaft jahrelang „in einem deflationären Labyrinth feststecken“. Was es daher brauche, so Südekum weiter, seien ...

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EconoFiction

What Black-Scholes-Merton means to a speculative materialist

25 Mai , 2020  

Even those persons paralyzed by anxiety over their lack of knowledge of financial economics will intuitively grasp that uncertainty pervades an attempt to ascertain what will have been the value of an asset in the future, relative to its subsequent past value now in the present. Can this even be done? ...

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EconoFiction

A propos capital

16 Mai , 2020  

“The exact development of the concept of capital is necessary, since it is the fundamental concept of modern economics, just as capital itself, whose abstract counterpart (Gegenbild) is its concept, is the foundation of bourgeois society. The sharp formulation of the basic, presuppositions of the relation must bring ...

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EconoFiction

After Brexit and Donald Trump: Is Nationalism challenging Neoliberalism?

14 Mai , 2020  

… Financial markets generate a structure for overseeing the effectiveness of individual capitals, that is to say a type of supervision of capital movement. The demand for high financial value puts pressure on individual capitals (enterprises) for more1 intensive and more effective exploitation of labour, for higher profitability. This pressure ...

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EconoFiction

“Socialist Planning” and Enterprise in the USSR, 1929-1989

10 Mai , 2020  

The basic element of economic planning in “actually existing socialism” was aspecific kind of economic control exercised over enterprises by the state (in the formof the state planning agencies). This control derives from two sources: (a) the plan itself (which had the status of law), that is to say the ...

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EconoFiction

Capitalized money, austerity and the math of capitalism

6 Mai , 2020  

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 the heterodox literature on money and debt there is no convincing critical theory of money creation. ...

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EconoFiction

Paradoxical Politics: Why the System Relevance of Care Workers Can No Longer Be Denied

27 Apr , 2020  

he ‘corona crisis’ reveals that care workers play a particularly important role in post-industrial societies. In this SILENT WORKS interview Magdalena Taube and Krystian Woznicki talk to the scholar-activist Christine Braunersreuther about why this is only now coming to light and what political consequences it could have.

In the ‘ ...

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