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

FX & Imperialism

8 Okt , 2019  

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 up two or more countries. It is mainly because the ...

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EconoFiction, Mashines

Do Androids Dream of Surplus Value?

8 Okt , 2019  

Androids, if they were to come into existence, would be the outcome of scientific and engineering ingenuity and thus be products of past living labour. Although the androids might be Turing-compatible, Voight-Kammpf cheating and Asimov-law abiding, they would be dead labour. Indeed as outcomes of a capitalist production process they ...

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EconoFiction

Derivatives are Speculative Capital

3 Okt , 2019  

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 trading of foreign exchange and, in particular, securities and derivatives. ...

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NonPolitics

Revolutionary Strategy in a Warming World

1 Okt , 2019  

How can climate justice activists stop capitalism’s drive to catastrophe? The author of Fossil Capital considers lessons from past revolutions and proposes an action program for today.

Andreas Malm teaches human ecology at Lund University, Sweden. He is the author of Fossil Capital: The Rise of Steam Power and the Roots of ...

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PhiloFiction

25 Thesis about Time

30 Sep , 2019  

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 sign the time accumulated in the commodity is settled, which ...

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EconoFiction

Finance and Reproduction of Capital

28 Sep , 2019  

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 relationship between finance and capitalist production. In a further section, ...

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EconoFiction

Is there any machine added surplus value?

26 Sep , 2019  

Not the problem of the transfer of the value or the reproduction of the value share of the fixed capital, which Marazzi described in his essay The Amortization of the Body Machine (Marazzi 2012: 35ff.) (according to which the constant capital is produced twice through the operation of transmission), the ...

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EconoFiction, PhiloFiction

Laruelle and Capital

25 Sep , 2019  

Each statement of non-Marxism aims at a double methodization, either as axiom or as theorem, the latter remaining entirely related to the Marxist material, which is always different symptomatologies. The specific operations of non-Marxism should also produce new theoretical objects, be they specified circumstances or concepts such as “non-proletariat” or ...

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EconoFiction

Capital and Total Capital: The Quasi-Transcendental and the Actualisation- Virtualization Interconnection

24 Sep , 2019  

For a further explanation of the concept of capital we refer to the French philosopher François Laruelle, who in his conception of non-philosophy, when he speaks of “unilateral duality”, first generally assumes that two or more terms and their relations are always determined by one term. This is the principle ...

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Necropolitics

Capitalocene and Planetary Justice

20 Sep , 2019  

The Capitalocene argument therefore rejects anthropocentric flatten-ing — “We have met the enemy and he is us” (as in Walt Kelly’s iconic 1970 Earth Day poster) — along with economic reductionism. To be sure, capi-talism is a system of endless capital accumulation. But the Capitalocene thesis says that to understand ...

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EconoFiction

Index of Power Update, 2018-19: China #2

18 Sep , 2019  

his is an update of the statistics for my Index of Power, using data for 2018-19 and discussing what a country’s ranking reflects. The major change is that China’s rank has shifted up and it has now taken the UK’s place at number 2 in the world. The US still ...

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Mashines

Marx and the Machine

17 Sep , 2019  

With the reference to the phylogeny of machines, which ranges from complex tools to machines driven by motors to automatons, Marx always combines a genealogy of technology shaped by capital and thus clearly sets himself apart from a transhistorical theory of the evolution of technology. Marx writes: “Work is organized ...

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EconoFiction

Class in the 21st century: Asset inflation and the new logic of inequality

16 Sep , 2019  

What becomes of class when residential property prices in major cities around the world accrue more income in a year than the average wage worker? This paper investigates the dynamic of combined wage disinflation and asset price inflation as a key to understanding the growth of inequality in recent decades. ...

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EconoFiction

Deleuze/Guattari and quantum finance

13 Sep , 2019  

Deleuze/Guattari invite us to apply at least three models of thought to the theoretical analysis of economics, by tracing the image of the current that, in their view, articulates each model. It is only the third, the molecular-performative model, that correctly stages the force of thought. (Laruelle contrasts the concept ...

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PhiloFiction

Laruelle, the myths of and about Marxism

11 Sep , 2019  

Marx has often spoken of the dwarfish and narrow-minded idea of the German petty bourgeois. Without a doubt, this also applies today to the remaining stocks of German left-wing academics and their Marx reading, as one could see again on the occasion of this year’s Marx Party. There is swaggering, ...

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Documentation

Out of Control – Hong Kong’s Rebellious Movement and the Left

10 Sep , 2019  

taken from here

This article is the result of recent discussions with protesters and left-wing activists in Hong Kong. It gives a short overview of the escalated confrontation and argues that the broad ignorance of the global left is a mistake. Despite its limitations, the movement constitutes a major challenge ...

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EconoFiction, Necropolitics

Imperialism, State Fascism and the War Machines of Capital (Extract)

10 Sep , 2019  

In this book The Patchwork of Minorities (Lyotard 1977), Lyotard writes that capital is a pseudo-organism which, since it has no metaphysics, is not even able to formulate a discourse that justifies its own truth that could explain and justify its existence. The statement recently made by the Invisible Committee ...

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EconoFiction

Capital and Power in the 21st Century (Extract)

10 Sep , 2019  

The world economy is currently in a phase of secular stagnation with persistently low growth rates of the real gross domestic product.1 The litanies of boundless economic growth that the representatives of capital and the imperialist states repeatedly prayed to the populations after the Second World War have literally come ...

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Mashines

The Trans Classical Machine (G. Anders, H.D. Bahr, F. Neyrat, G. Simondon)

7 Sep , 2019  

If one follows the theory about technical objects as developed by the French theorist Gilbert Simondon (Simondon 2012), and then the statements of Frédéric Neyrat in the anthology Die technologische Bedingung (The Technological Condition, Hörl 2011), it is necessary for today’s hyper-technical societies to fundamentally rethink the already disturbed identity ...

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NonPolitics

Transcending the nation: a communist strategy in the era ofglobalization. A reply to Velissariou

7 Sep , 2019  

ABSTRACT
Neoliberalism and austerity are not ‘false policies’, but strategies of
increasing profits by reducing labor and welfare costs. In the process of
dismantling labor rights and the welfare state, a part of the population
is being marginalized. It becomes ‘superfluous’, and its living conditions
approach those of the inflowing ...

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PhiloFiction

Quantum Marxism/Non-Laruelle

6 Sep , 2019  

Laruelle calls for a Marxist gnosis in his essay Marx with Planck and consequently calls himself not a Marxist, but a future-oriented Marxist in search of an aleatoric teleology that has no connection with what Marxist philosophy has hitherto set as the measure and method for Marxism. Laruelle thus in ...

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EconoFiction

Speculative Capital in the 21th Century

4 Sep , 2019  

1) The derivative is not something you hold in your hands like a book. It is essentially relational, but rather, it is a relation of relations. First, it is about the volatility of the derivative in relation to the volatility of the underlying. The decisive factor in the replication of ...

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