Like every crisis, 2008’s surprised. Some of us failed to see how turmoil originating in finance, and apparently in a limited area of finance to do with the US housing market, could have such great impact on factories and offices […]
Crisis and Sequels: capitalism and the new economic turmoil since 2007
According to the traditional definition, a currency has three main properties: (i) it serves as a medium of exchange, (ii) it is used as a unit of account and (iii) it allows to store value. Along economic history, monies were
Cryptocurrency and Efficient Market Hypothesis. Drunken Risibility.
This is from the archives written over two days in August and September this year and meant as part of the weekly digest for PFPAC (FB). Some days back, a friend, asked a question on Ratings Agencies (RAs hereafter), and if there
The Scourge of Ratings Agencies
When Mark Zuckerberg is interviewed, the founder of Facebook can barely put a sentence together without using the word ‘connect’. This looks like a case of Tourette’s syndrome that spouts business buzz words not curses. But it is based on
Facebook’s Advertising Machine
Part III. The Economic Concept of Ordinal Value in Chapter 9 Socially-necessary labor time, supply and demand, marginal utility, putative or nominal price, risk-weighted interest rates, or some combination of the above: what do all of these conceptions of the
Economy of the War Machine (Part III of IV)
Part II. Three Models of Economy in Chapter 1 There are, according to D&G, as outlined in Chapter 1, three conceptually-distinct but ontologically-interwoven models for the composition of the assemblage of an object. For our purposes, we have said we
Economy of the War Machine (part II of IV)
Part I. Introduction to an Economy of the War Machine Did you know that in Chapter 9 of A Thousand Plateaus Deleuze & Guattari outline an ordinal concept of value aligned with, in continuation of, and subsidiary to that
Economy of the War Machine (Part I of IV)
During the very years when orthodoxy turned Keynesianism on its head, extolling Reaganomics and Thatcherism as adequate for achieving stabilisation in the epoch of global capitalism, Minsky (Stabilizing an Unstable Economy) pointed to the destabilising consequences of this approach. The
Cross currency swaps and FX swaps encompass structures which allow investors to raise funds in a particular currency, e.g. the dollar from other funding currencies such as the euro. For example an institution which has dollar funding needs can raise
Monetary Policy Divergence: Cross Currency + FX Swaps — Negative Basis
art IV of our Economy of the War Machine will arrive in several separate posts. Our outline is as follows. Chapter One. Overview of Part IV. Elements of Nomadic Distribution Chapter Two. A Technological Issue. Interminable Deterritorialization (Continuous Recalibration) (parts a and
Economy of the War Machine (Part IV. Overview)
Rethinking Imperialism A Study of Capitalist Rule John Milios and Dimitris P. Sotiropoulos For more than a century ‘imperialism’ has been a key concept in Left theory and politics, connoting both the aggressiveness and the overripe characteristics of modern capitalism,
24/7 metric and algorithmic governance are important features characteristic of automated and financialised capital that Jonathan Cray and Berns/ Rouvrey understand also as a new kind of technological performativity. In his book “Social Media Abyss” Geert Lovink – founding director
Economy and Power of the Net: Interview with Geert Lovink