The actualization of value depends on material, symbolic money, which as the counterpart of value – counterpart, insofar as money nourishes the illusion of being able to give crisisless form to the potentially infinite of exploitation – affirms and actualizes […]
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
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
Do Androids Dream of Surplus Value?
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
REVOLUTION IN A WARMING WORLD Lessons from the Russian to the Syrian Revolutions by Andreas Malm It doesn’t take much imagination to associate climate change with revolution. If the planetary order upon which all societies are built starts breaking down,
Revolutionary Strategy in a Warming World
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
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
Is there any machine added surplus value?
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,
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
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
Capitalocene and Planetary Justice