For Baudrillard, the attacks on the World Trade Center were the first and the last symbolic event of global significance. With the World Trade Center, terrorism destroyed the center of Western imperialism that existed worldwide. The terrorist events thereafter have […]
Baudrillard: The victory of Terrorism
Put simply, if a social credit (a sum of money) was issued by the government to its citizens and recorded as an investment rather than a debt to be repaid, there would be a lot less commercial bank debt and therefore a lot
The Aggregate Demand Problem in Capitalism Solved
In 2012, global CO2 emissions were 58% higher than in 1990, causing, among other things, hurricanes to become stronger due to higher temperatures in ocean catchments and Arctic ecosystems to reach a number of tipping points. The limit at which
Moreover, this chapter argues that while MMT has its virtues, it too misses two very important aspects of capitalism: (1) why there is a constant aggregate demand problem in a capitalist economy and; (2) that the majority of new money creation
Covid 19 and the Global Political Economy: Crises in the 21st Century
After the folding of the last period of mass labour mobilisation – the post-war Fordist boom – capitalism entered its terminal crisis, where fictitious money is increasingly dissociated from labour-mediated value. Already in the 1980s, the irreversible erosion of capital’s labour-substance, triggered by
PAUSE FOR THOUGHT: MONEY WITHOUT VALUE IN A RAPIDLY DISINTEGRATING WORLD
Growth forecasts are gloomy for the global economy. The Ifo Institute lowered its forecast for the FRG for this year from 3.3 to 2.5 per cent, while the International Monetary Fund (IMF) has lowered the growth for the gross national
The Marxian notion of Value is a complex theoretical construct: READ HERE ,
On the Question of Money Endogeneity: Marx vs. the Post-Keynesians
Immortality This note offers some speculative ideas worth considering. One of the key features of all hierarchical civilizations is their rulers’ fear of death. This fear was famously narrated in the ancient myth of Gilgamesh – the Sumerian king who
The Capitalist Degree of Immortality
The systemic order of the capital economy is generated in and by continuous disorder: just as order cannot be equated with the optimum of regularity, disorder cannot be identified with the absence of order or with pure chaos. According to
Notes on Anwar Shaikh: Capitalism: Competition, Conflict, Crises
“The ‘dominion of capital’ is an accomplished teleological catastrophe, robot rebellion, or shoggathic insurgency, through which intensively escalating instrumentality has inverted natural process into a monstrous reign of the tool.” – Nick Land, Teleoplexy: Notes on Accleration “Socialism has
Nick Land and Teleoplexy – The Schizoanalysis of Acceleration
In sum, the last three centuries of an emergent and transforming global political economy must not be viewed teleologically – as in a linear or stadial developmentalism where some desired end is finally achieved – but as a historical exception
Energy, Capitalism and World Order
Nick Land writes, “Acceleration is techonomic time.” (Land 2014: 95) The etymological reference here aims at “tech” on the one hand (from Proto-Celtic tegos, from Proto-Indo-European tegos (“cover, roof”) = house) – and on the other hand at “nomic”, a
Nick Land`s Teleoplexia and Capital