Marxist economist Anwar Shaikh has written a monumental book. His thousand-plus page work Capitalism. Competition, Conflict, Crises is anything but a textbook and presupposes a basic knowledge of neoclassicism, Keynesianism and Marxist theory. It is also enriched with a sophisticated …
Notes on Anwar Shaikh`s „Capitalism: Competition, Conflict, Crises“
The key role of financial markets is to “monitor” the effectiveness of individual capitals, facilitating within enterprises effective exploitation strategies. read here
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
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
Some Notes on Housing Markets in China, and What This Tells Us About Wider Economic Realities taken from here Context of a Crisis With the impending collapse of housing conglomerate Evergrande, focus has been placed on the housing market in …
… One has to be precise. The frontline creators of the massive infusion of credit are the banks, led of course by the Central Banks. This of course draws on the major source of national credit, the government and state …
This paper aims to articulate an “encounter” between operaismo (Wright, 2017 – in English literally “workerism”, but often referred to as “Autonomist Marxism”, from now on AM, highlighting a horizon of worker autonomy from capital) and World-Ecology (Moore, 2015a – …
Autonomist Marxism and World-Ecology: For a Political Theory of the Ecological Crisis
Last week there was short-term turbulence on the stock markets due to the GameStop event. Actually, apart from a few slumps, the price trends on the stock markets have only known one direction in recent years, namely upwards. If, due …
Debt excess, GameStop turbulence, zombie companies and future (Corona) crises
The interconnection or linking of government and financial capital is written now in academic literature today as the operational-organisational state-financial nexus. (Cf. Malik 2014) This state-financial nexus (the state’s management of the economy by ministries of finance, central banks, informal …
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 …
ON MARX’S CRISIS THEORY IN THE ORIGINAL MANUSCRIPT OF THE 3RD VOLUME OF CAPITAL
THE MISMATCH THESIS: What do economists mean when they talk about “capital accumulation”? Surprisingly, the answer to this question is anything but clear, and it seems the most unclear in times of turmoil. Consider the “financial crisis” of the late …
What Do Economists Mean When They Talk About ‘Capital Accumulation’?
An Interview Discussing the Pandemic, Economic Crisis, Repression, and Resistance in Iran All around the world, as the compromises that stabilized capitalism through the 20th century collapse, people are facing increasingly authoritarian measures from governments of all stripes. In this …