According to the theory of capital as power (CasP), capitalists and corporations are driven not to maximize profit, but to “beat the average”. Their yardstick is not an unmeasurable theoretical abstraction, but the readily observable performance of others. Their aim …
Until the late 2000s, our work focused primarily on why capitalism should be understood as a mode of power. We argued that capital itself is a form of organized power and researched how capitalists sustain, defend and augment their capitalized …
The capitalization ritual consists of discounting riskadjusted expected futur e earnings to their present value. The reduction involves fourelementary particles: (1) future earnings, (2) investors’ hype regarding these earnings, ( 3) risk perceptions associated with earnings estimates and (4) the …