EconoFiction

Capitalizing a future unsustainable: Finance, energy and the fate of market civilization

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

Excerpt from Chapter One of Frank Engster’s Book: Das Geld als Maß, Mittel und Methode Das Rechnen mit der Identität der Zeit

The question of the book is how a radical critique of capitalism is possible when critique in the tradition of Kant and Hegel means that the criticized subject itself has to “give” the measure of its critique. The thesis is …

Excerpt from Chapter One of Frank Engster’s Book: Das Geld als Maß, Mittel und Methode Das Rechnen mit der Identität der Zeit

The 1-2-3 toolbox of mainstream economics:Promising everything, delivering nothing

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

The 1-2-3 toolbox of mainstream economics:Promising everything, delivering nothing

Inflation is always and everywhere a redistributional phenomenon

Inflation is the average rate of change of individual money prices. In this narrow sense, Milton Friedman’s claim that inflation is always and everywhere a monetary phenomenon is correct. But underlying the average rate of inflation, individual prices change at different rates. And in …

Inflation is always and everywhere a redistributional phenomenon

On the situation in the financial markets

Trillion-dollar government spending programs have far exceeded the outlays following the 2008 financial crisis in Western countries, and go hand in hand with the gigantic government bond-buying programs and quantitative easing policies of central banks, which in turn flood the …

On the situation in the financial markets

ENVIRONMENTAL CRISES AND THE METABOLIC RIFT IN WORLD-HISTORICAL PERSPECTIVE

The best starting point for reconstructing a world-historical theory of ecological transformation under capitalism is found in Marx’s concept of metabolic rift. For Marx and Engels (1970), the theory of metabolic rift centers on the ecological moment of the antagonistic …

ENVIRONMENTAL CRISES AND THE METABOLIC RIFT IN WORLD-HISTORICAL PERSPECTIVE

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