EconoFiction

Stocks Are Up. Wages Are Down. What Does it Mean?

8 Sep , 2020  

If you listen carefully, you can hear Jeff Bezos getting richer. There’s the sound again. Another billion in Bezos’ coffers.

Let’s put some numbers to this sound of money. Since 2017, Bezos’ net worth has grown by about $4 million per hour — roughly 500,000 times the US minimum wage.1 This ...

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EconoFiction

Assetization (2)

23 Aug , 2020  

Wenn die Autoren auf frühere Ökonomen zu sprechen kommen, die sich mit den Konzepten der Assetization bzw. Kapitalisierung auseinandergesetzt haben, dann zuerst auf den von Bichler/Nitzan geschätzten Thorstein Veblen, für den das Asset ein monetäre Konzept ist, das mit Eigentum und Wert konnotiert ist, wobei letzterer den kapitalisierbaren Wert repräsentiert. ...

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EconoFiction

Capitalisation is debt production sui generis

26 Mai , 2020  

Dieter Schnass writes in the context of the EU’s current aid measures in an article in Wirtschaftswoche that infinite debt is the business basis of the capitalist system: “… Without stimulus from governments and central banks the world economy would be stuck for years “in a deflationary labyrinth”. What is ...

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EconoFiction

24/7 Capital

22 Sep , 2019  

The rhythms of life, the ups and downs of nature and everyday life must disappear in this world; for the weakness and inadequacy of human time, its diffuse and intertwined structures”, writes Jonathan Cray, “there is no place left in the present global digital 24-7 system. The 24/7 mode has ...

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EconoFiction

Capitalizing Obesity

13 Apr , 2016  

In his article, ‘Food Price Inflation as Redistribution’, Joseph Baines (2014) shows the intimate correspondence between differential profit and world hunger. Figure 1 below, reproduced from his article, portrays a systematic positive correlation between the relative income of the Agro-Trader Nexus (Archer Daniels Midland, Bunge, Cargill, Deere, DuPont and Monsanto) ...

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EconoFiction, Lexicon

Financialization and Marx: Some Reflections on Bryan’s, Martin’s and Rafferty’s Argumentation

7 Feb , 2016  

Abstract

The recent theoretical works of the authors provide thorough insights into the workings of contemporary capitalism. Derivatives are the key issue involved here. They comprehend financialization as a development within, rather than a distortion of, capitalist production. They nevertheless underestimate the ability of Marx’s analytical categories to capture the ...

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Datenschutz
Ich, Achim Szepanski (Wohnort: Deutschland), verarbeite zum Betrieb dieser Website personenbezogene Daten nur im technisch unbedingt notwendigen Umfang. Alle Details dazu in meiner Datenschutzerklärung.