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 […]
The financial crisis in 2008 took place.
1) Economic quantities can be changed in time precisely because money, as a so-called transcendental signifier of capital, has the quality of a pure quantity, whereby money is released from current acts of exchange and thus, as a monetary sign,
25 Theses at time (of capital)
At first glance, it seems that Deleuze’s concept of structure involves a complex form of the so-called creorder, a term that appears at the forefront of the methodological findings of the economists Bichler/Nitzan. (Cf. Bichler/Nitzan 2009) If the structure is
Bichler/Nitzans “Capital of Power”
The heterodox positions of Elie Ayache and Suhail Malik on contemporary finance are often perceived in the haze of accelerationism, although not widely discussed. Let us first turn to the prosition of Suhail Malik. For us, the contingent price movements
Elie Ayaches and Suhail Malik’s heterodox concepts of finance: the frenzy of contingency
1) Soccer, porn and pop are the cultural industries of today. 2) Clubs, players and coaches are now highly speculative financial investments. The Neymar deal with a redemption of 222 million raises world football to a new dimension. One rather
The football syndrome: speculative business
In his book How Noise Matters to Finance, which is well worth reading, Knouf points first and foremost to traditional ideas about the stock market, such as the control of the market by the famous invisible hand, the dreams of
Remarks on “How Noise Matters to Finance”
Money robots are actually nothing more than complex algorithms that analyze and process data and are also able to learn from feedback and results. Former MEP Martin Ehrenhauser has published an informative book on this subject. The book “Die Geldroboter”,
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
Financial Capital Globalization as Capital Discipline and the Socialist Alternative
What affects the exchange rate of a country’s currency? The answer depends on where that country stands in the world economy. Not simply because an exchange rate is the value of one currency versus another, so that you must weigh
In recent decades, an ever-increasing proportion of the profits of private banks has been generated by financial activities far beyond mere borrowing and lending of money. Commercial banks generate their profits through the endogenous creation of credit and through the
Derivatives are Speculative Capital
1) Economic quantities can also be changed in time precisely because money, as a so-called transcendental signifier for capital, possesses the quality of a pure quantity, with which money is released from current barter exchanges and thus as a monetary
Here we examine the ratio of financial capital (finance) to the reproduction of capital. In Section A, we clarify the concept of extended reproduction with particular reference to the concept of circulation. Section B deals mainly with the previously neglected
Finance and Reproduction of Capital