Capital and Time. For a New Critique of Neoliberal Reason

6 Mrz , 2018  


Introduction: Beyond the Critique of Speculation

This introductory chapter discusses the shortcomings of the heterodox critique of financial speculation as an irrational divergence from real values. It argues that the capitalist subject speculates not in defiance of fundamental values but precisely because it has none to fall back on. ...

, , , , , , , ,


A Critique of the Critique of Finance: Critics of neoliberal capitalism rarely recognize the productive power of speculation

23 Feb , 2018  

If there is one theme that unites the various critiques of contemporary finance, it is the emphasis on its speculative character. Financial growth is said to be driven not by the logic of efficient markets, but rather by irrational sentiment, “animal spirits” that do not respect fundamental values.

Emphasizing the ...

, , , , , ,


Ramping the Markets: Banking on Ponzi Finance

7 Nov , 2017  

When funded pension schemes were first put forward at the beginning of the 1970s as a private sector alternative to state earnings-related pensions, the merchant (investment) banks and stockbroking firms that promoted them did not anticipate how successful they would become in that, by the following decades, pension schemes and ...

, , , , ,


Orthodoxy of the Neoclassical Synthesis: Minsky’s Capitalism Without Capitalists, Capital Assets, and Financial Markets

30 Aug , 2017  

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 view that instability is the result of the ...

, , , ,

EconoFiction, Lexicon

Minsky und die Instabilität der Ökonomie

14 Jun , 2016  

Himan P. Minsky wird gewöhnlich der post-keynesianischen ökonomischen Theorie zugeordnet, genauer gesagt der amerikanischen “Schule”, zu der Autoren wie Weintraub, Moore, Eichner, Kregel etc. gehören. Diese Schule befasst sich im Gegensatz zur europäischen Schule um Kalecki, Robinson, Kaldor, Harcourt etc. stärker mit den monetären und finanziellen Prozesen der Ökonomie. Für ...

, , , ,