In der begrifflichen Bestimmung der Derivate bleibt Adkins konfus, wenn sie beispielsweise schreibt, dass Geld hier die Charakteristiken des Kapitals angenommen habe und Kapital die des Geldes. Zugleich schreibt sie vom Geld als Kapital bzw. einer spezifischen Ware des Kapitals. […]
It’s an empirical fact that the economy experiences business cycles, in other words, oscillations between booms and busts. Furthermore, many argue that the economy is experiencing a secular decline. For example, productivity across all industries has decreased since the 1970s.
Crisis Theory: The Decline of Capitalism As The Growth of Expensive and Fragile Complexity
Wir besprechen hier in aller Ausführlichkeit das neue Buch von Lisa Adkins “The Time of Money” Der Logik der Spekulation wohnt eine spezifische Rationalität inne, die mit einer außergewöhnlichen Form der Zeit korreliert, einer nicht-chronologischen Zeit, in der Vergangenheit, Gegenwart
The 2007-2008 financial crisis is without precedent in the post-war period, a fact acknowledged by the majority of economists. At the same time, the crisis is a ‘marginal moment’ which unveils and helps us rethink the workings of contemporary capitalism.
I would like to pursue the problem of the economy of flows; last time, someone wanted a more precise definition of flows, more precise, that is, than something which flows upon the socius. What I call the socius is not
Every civilization must decide what is, and what is not, valuable. The Marxist tradition makes occasional reference to a “law of value.” It is not a phrase that rolls easily off the tongue, apparently. It sounds quaint, curiously out of
The Value of Everything? Work, Capital, and Historical Nature in the Capitalist World-Ecology
We have nothing to sell you and we are not trying to seduce our fellow proletarians. We are not a groupuscule seeking to compete over prestige or influence with the rest of the other groupuscules and parties which claim to
Against the Valorization of Life – Part I
The 10th anniversary of the September collapse of the US financial system has led to a number of commentaries on the causes of the Lehman bankruptcy and cures for its aftermath. Most tend to focus on identifying the proximate causes
Minskyan reflections on the ides of September
Spyros Lapatsioras,1 Leonidas Maroudas,2 Panayotis G. Michaelides,3 John Milios,4 D. P. Sotiropoulos,5 1. Introduction In the third chapter of Capital Marx observed: “As long as the social character of labour appears as the money existence of the commodity and hence
On the Character of the Current Economic Crisis
Als Jean Baudrillard ankündigte, dass das Jahr 2000 nicht stattfände, musste man schon Böses ahnen. Es ist keine Übertreibung festzustellen, dass die Finanzkrise von 2008 das bisher einzige Ereignis von weltgeschichtlicher Bedeutung im neuen Jahrtausend war (bekanntlich fand nach Baudrillard
Die Finanzkrise im Jahr 2008 fand statt.
Are the temporal dimensions of money, debt and finance important? How and why should social scientists engage with these questions? These are the key lines of inquiry that drive my new book The Time of Money. For many social scientists
Speculative Finance and the Transformation of the Social
Chapter 1 highlights the fundamental characteristics that, in their interconnectedness, distinguish capitalism from all other social systems: (i) wage labour, (ii) monetization of the whole economy (money-begetting money), (iii) concentration of the means of production and dissociation of the capitalist
The Origins of Capitalism as a Social System