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 …
A New Theory of Speculative Capital The book’s central theme is to develop a new theory of speculative capital related to other forms of capital, the world market, and the state. Besides most Marxist and heterodox theories, the book distinguishes …
We present ht here, in three parts, a preliminary report on the book Speculative Capital, which contains the first comprehensive study of a new form of capital that dominates the economies of the 21st century. Throughout this report, we refer …
Speculative Capital in the context of LiPumas theory of Speculation And CIrculatory Capital
The essay you published with Laika Publishing is called „Imperialism, State Fascism, and the War Machines of Capital.“ How do you define these individual terms? The war machine is a Deleuze/Guattari term, a machine that does not have war as …
Over the past century, the nexus of imperialism and financialism has become a major axis of Marxist theory and praxis. Many Marxists consider this nexus to be a prime cause of our worldly ills, but the historical role they ascribe …
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 …
I recently had a lively Twitter debate with Jonathan Nitzan, Shimshon Bichler and Cory Doctorow1 about the future of big corporations in the United States. The debate was prompted by Doctorow’s piece ‘End of the line for Reaganomics’, which I reposted on capitalaspower.com. Doctorow argues …
And labor is everywhere, at all times. When oppression is absolute, there is no more leisure, no more „free time. Sleep is supervised. The meaning of work is then the destruction of work at and through work. But if, as …
Spyros LapatsiorasUniversity of Crete, spirosla@gmail.comJohn MiliosNational Technical University of Athens, john.milios@gmail.com1. The prevailing heterodox approaches to neoliberalism and financializationA crucial aspect of many heterodox approaches to modern capitalism, finacializationand crisis is the idea that the domination of neoliberalism and of …
Global finance as capital rule. The “creative” role of the ECB
On August 16, 2021 President Biden addressed the nation to explain why the US military is pulling out of Afghanistan. To a lesser extent, he also tried to explain why the Afghan government and its 300,000 military forces imploded over …
In one of the few passages of Laruelle on economics it says: „We distinguish exchangeability or translation as encompassed within a general element which is necessarily philosophical in kind or convertibility which regulates this exchange, from unilateral translation or translation …
With money, one can potentially trade all objects, products and relations of an economy as commodities, as purchasable objects, while conversely commodities are produced exclusively in order to turn them into money. Because of this ubiquitous function of money alone, …