EconoFiction

Financialization:Market Discipline or Capital Discipline?

19 Sep , 2020  

John Milios/ Dimitris P. Sotiropoulos

A crucial aspect of nearly all contemporary approaches to imperialism is the idea that the domination of neoliberalism and of the globalized financial sector of the economy produces a predatory version of capitalism, a capitalism that inherently tends towards crisis.

read here ...

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EconoFiction

Minsky and the Instability of the Economy

21 Jul , 2020  

Himan P. Minsky is usually associated with post-Keynesian economic theory, more precisely with the American “school”, to which authors such as Weintraub, Moore, Eichner, Kregel, etc. belong. In contrast to the European school around Kalecki, Robinson, Kaldor, Harcourt etc., this school is more concerned with the monetary and financial processes ...

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NonPolitics

AMÉRIQUE, FONDU AU NOIR

3 Jun , 2020  

Depuis Madison, dans le Wisconsin, le philosophe Frédéric Neyrat nous a transmis ce tour d’horizon de la société américaine au moment de son embrasement. Si dans le rapport de force en cours, nous ne pensons pas qu’il faille espérer quoi que ce soit du parti démocrate, bien au contraire, ce ...

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PhiloFiction

The Discreet Charm of Coronavirus

22 Mai , 2020  

taken from positions politics

I saw the sun
Born from a great silence
I saw the sun burning towards a great death
I have walked above many deaths and much silence
But I cannot describe the sun
Too late to its waning
Too early to its setting
In a moment ...

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EconoFiction

Health crisis, economic crisis and social crisis are all the same thing

30 Mrz , 2020  

Originally written by the anti-state communist Carbure Blog and published on Des Nouvelles Du Front in French on March 29th, 2020. What follows is translation of prole wave.

1/16 If this health crisis is just beginning, what is even more troubling is the crisis called ‘economic’ which does not distinguish ...

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EconoFiction

The financial crisis in 2008 took place.

19 Feb , 2020  

When Jean Baudrillard announced that the year 2000 would not take place, one had to suspect evil. It is no exaggeration to say that the financial crisis of 2008 was the only event of world historical significance in the new millennium (as is well known, according to Baudrillard, the Iraq ...

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EconoFiction

Financial Capital Globalization as Capital Discipline and the Socialist Alternative

10 Okt , 2019  

John Milios National Technical University of Athens, john.milios@gmail.com

Dimitris P. Sotiropoulos The Open University Business School, UK, d.p.sotiropoulos@gmail.com

1. Globalization, financialization, crisis

The current financial crisis of capitalism is without precedent in the post-war period. Regarding the crisis, recent heterodox literature is dominated by a single and persistent argument. The ...

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EconoFiction

The Time of Crisis

28 Feb , 2019  

This text with images was originally presented at the Historical Materialism New York conference in May of 2011. Given the context, the text does not go into the sort of detail the matter really requires. A longer version is likely destined for an anthology of writings on contemporary tactics, strategy, ...

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EconoFiction

The Harder They Fall

23 Jan , 2019  

Until a few months ago, the stock market narrative in the United States could have been summarized by the popular acronym BTFD – or ‘buy the fucking dip’. Analysts and strategists, emboldened by the world’s synchronized recovery, Trump’s pro-business policies and ample liquidity, predicted that equities would continue rising and ...

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EconoFiction

Contingency and Foundation: Rethinking Money, Debt, and Finance after the Crisis

21 Okt , 2018  

The origins of the financial crisis of 2007–8 have been widely understood in terms of the financial system having transgressed the boundaries of its proper role and place in society; and the response has been driven above all by a concern that key dimensions of the social order have become ...

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EconoFiction

With their back to the future: will past earnings trigger the next crisis?

22 Sep , 2018  

As these lines are being written (April 2018), the U.S. stock market is again in turmoil. After a two year bull run in which share prices soared by nearly 50 per cent, the market is suddenly dropping. Since the beginning of 2018, it lost nearly 10 per cent of its
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EconoFiction

Minskyan reflections on the ides of September

18 Sep , 2018  

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 of the crisis in an attempt to assess the adequacy

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