EconoFiction, Lexicon

Global Significance of Chinese Investments

4 Jul , 2018  

What are fitted values in statistics?

The values for an output variable that have been predicted by a model fitted to a set of data. a statistical is generally an equation, the graph of which includes or approximates a majority of data points in a given data set. Fitted values ...

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EconoFiction

Der Unbehagen der Marxisten. Crisis, finance, and the falling rate of profit

5 Mai , 2018  

Alan Freeman, Geopolitical Economy Research Group, University of Manitoba
afreeman@iwgvt.org
www.geopoliticaleconomy.org
5 May, 2018

Nichts ist schwerer und nichts erfordert mehr Charakter, als sich in offenem Gegensatz zu seiner Zeit zu befinden und laut zu sagen: Nein.
– Tucholsky

Zu sagen was ist, bleibt die revolutionärste Tat.
– Luxemburg

I’ll ...

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Documentation, NonPolitics

Final Remarks ( The Crisis and the Rift: A Symposium on Joshua Clover’s Riot.Strike.Riot)

21 Apr , 2018  

Interlude on the Model

It is here that we might arrive at what I believe to be the most significant generic distinction regarding what kind of book it is. It is a book that makes models. A model always involves radical exclusions, always involves the economist’s most vexing incantation: ceteris

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Documentation

Karl Marx

29 Mrz , 2018  

… Marx himself considered his theory of surplus-value his most important contribution to the progress of economic analysis (Marx, letter to Engels of 24 August 1867). It is through this theory that the wide scope of his sociological and historical thought enables him simultaneously to place the capitalist mode of ...

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EconoFiction

The character of the crises: Seeking a way-out for the social majority

25 Mrz , 2018  

Dear comrades and friends,

In order to answer the question stated by the organizers of  this very important meeting, we must speak about neoliberalism and the financial sphere.Neoliberalism is a form of capitalist exploitation, i.e. of extracting surplus valueand stren gthening the power of capital over the working classes and ...

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Documentation, EconoFiction

Marx 2000

4 Mrz , 2018  

After the end of state socialism, capitalism has turned the well-known Marxist metaphor of the undertaker into its opposite and integrated it into its own ideological repertoire. But, in claiming to bury the Marxian Theory once again, the official academic sciences certainly have the wrong body. Marx’s work represents, according ...

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EconoFiction

The Statistical Physics of Stock Markets

26 Feb , 2018  

The externalist view argues that we can make sense of, and profit from stock markets’ behavior, or at least few crucial properties of it, by crunching numbers and looking for patterns and regularities in certain sets of data. The notion of data, hence, is a key element in such an ...

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EconoFiction

A Critique of the Critique of Finance: Critics of neoliberal capitalism rarely recognize the productive power of speculation

23 Feb , 2018  

If there is one theme that unites the various critiques of contemporary finance, it is the emphasis on its speculative character. Financial growth is said to be driven not by the logic of efficient markets, but rather by irrational sentiment, “animal spirits” that do not respect fundamental values.

Emphasizing the ...

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EconoFiction, Necropolitics

Stock market falls and fascism

6 Feb , 2018  

As the Dow plummeted in the previous week, the far Right in the US has leaned in to ‘Jewish banker’ conspiracy theories. By that view, Goldman Sachs is sabotaging Making America Great Again. Some on the Left have echoed the understanding of stock markets and finance that this encapsulates.

This ...

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EconoFiction

After Brexit and Donald Trump: Is Nationalism challenging Neoliberalism?

29 Jan , 2018  

Dear friends and comrades,
I will argue that the return of statist and nationalist policies does not actually mean that Neoliberalism is being challenged. Neoliberalism is a form of capitalist goverrnmentality, a form of organizing the power of capital over the working classes and the social majority. It is based ...

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EconoFiction

Are We Heading for Another Economic Crash?

23 Jan , 2018  

The short answer is yes. However, the big question has to do with timing and how the crash will be experienced and by whom. Typically, an economic crash means that the value of owned income-generating assets like stocks (shares in companies) are radically devalued. For instance, at the height of ...

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Documentation, EconoFiction

On the Character of Marxian Theory, “Ricardian Marxism” and the Role of F. Engels

21 Jan , 2018  

Exposition of the basic points of the Marxist theory of value and its ideological implications, of money (Parts I and II), of social capital and of crises (Parts III and IV) makes it clear that the theoretical analysis (the system of concepts and their logical implications) in question is not ...

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EconoFiction

Marx’s theory, the crisis and the abolition of capitalism

16 Jan , 2018  

In this 2010 interview, Robert Kurz discusses Marx’s theory of crisis, the theories of “collapse” advocated by a minority of Marxists (Luxemburg, Grossman, Mattick) in the early 1900s, the implications of the “third industrial revolution of microelectronics” for capitalist accumulation, Moishe Postone’s analysis of the crisis of abstract labor, “anti-industrialism”

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EconoFiction

ON MARX’S CRISIS THEORY IN THE ORIGINAL MANUSCRIPT OF THE 3RD VOLUME OF CAPITAL

12 Jan , 2018  

The notion of capital overaccumulation, as constructed by Marx in Volume 3 of Capital on the basis of his “preliminary definition” of “absolute overproduction”, is considered in this paper as the key element of Marx’s crisis theory. Following what the author considers as the logic of Marx’s analysis, the paper ...

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EconoFiction

The ‘Greek Crisis’ and the Austerity Controversy in Europe

22 Nov , 2017  

John G. Milios, Spyros Lapatsioras and Dimitris P. Sotiropoulos
Extreme austerity policies implemented by Greek and European governments after the outbreak of the 2008 global economic crisis constitute neither a ‘correct’ strategy for economic reform and development nor an ‘erroneous’ strategy, which could be amended through reasonable argumentation and discussion.
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