EconoFiction

Cryptocurrency and Efficient Market Hypothesis. Drunken Risibility.

10 Sep , 2017  

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 related to political power. In the beginning, coins were minted

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EconoFiction

Finance Depends on Resistance, Finance is Resistance, and Anyway, Resistance is Futile

26 Jun , 2016  

Occupy Wall Street and the dawning of worldwide anti-austerity movements have occasioned a consideration of the economic and political power of financial speculation and raised the question of how it might be resisted. This essay argues hat the ideas of both “finance” and “resistance,” while convenient, demand deeper reflection. Specifically, ...

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EconoFiction, Lexicon

Financialization and Marx: Some Reflections on Bryan’s, Martin’s and Rafferty’s Argumentation

7 Feb , 2016  

Abstract

The recent theoretical works of the authors provide thorough insights into the workings of contemporary capitalism. Derivatives are the key issue involved here. They comprehend financialization as a development within, rather than a distortion of, capitalist production. They nevertheless underestimate the ability of Marx’s analytical categories to capture the ...

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