Capital as Power

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

Dominant Capital and the Government

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

From Commodities to Assets / Capital as Power and the Ontology of Finance

Introduction The wealth of societies in which the capitalist mode of production prevails appears as an immense collection of commodities assets. — paraphrasing Karl Marx The mirages revolt The financial meltdown of 2008 presented an opportunity to examine certain fundamental …

From Commodities to Assets / Capital as Power and the Ontology of Finance

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