First, according to Marx’s argument, isolated individual capitals within a social formation, are transformed through competition (and not through the political influence of the state exercised from outside, as, e.g. Hardt and Negri [2000: 304-5] mistakenly maintain), into elements of …
Nation, Imperialism, War. A critique of mainstream theories of imperialism
In contrast to some Keynesian authors who constantly describe of all sorts of dysfunctions of financialisation, in this book we assume rather that the neoliberal model of financialisation and its austerity policies have proven to be a relatively effective strategy …
The Functions of Financial Markets for the Capitalist Economy
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 …
It is easy to see today that in the course of implementing neo-liberal strategies, the state is being increasingly restricted in its function as the guarantor of social peace and compromise between the classes, while the various modes of operation …
While there are important parallels between the national market and the world market, the latter is not simply a subcategory of the latter. A more detailed analysis of the world market reveals that it is more than just the aggregation …
The fact that struggles for reproductive conditions or circulation struggles are increasing again worldwide at the moment is no coincidence. In France in particular, they are increasing in intensity from week to week with the Yellow West. The shifts are …
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 …
Imperialism, State Fascism and the War Machines of Capital (Extract)
Dies ist ein erster Versuch, die Bewegung der gilets jaunes zu verstehen und sie auf den Kontext übergreifender Zusammenhänge zu beziehen. Wir müssten nun, unseren sozialrevolutionären Grundsätzen und Methoden folgend, an den Äußerungen aus dieser Bewegung anknüpfen um von hier …
In a text from 1973, which appeared in the Kursbuch, the sociologist Manfred Clemenz has introduced the concept of structural state fascism, the author assumes that there are no fundamental functional differences between the forms of parliamentary democracy and the …
There are many advantages to political decentralization as a structural limitation on government power. Imagine a country the size of the United States, but consisting of only five states. Now imagine the same region containing 500 states. All other things …
The following chart gives a snapshot of the top 20 countries, ranked by their index of power in the world economy. Readers of this blog or my book, The City, will have seen this concept before,[1] but here the information …
There is a lot of buzz about Trump’s recently launched trade wars, but much of this buzz misses the point. The key issue here is not foreign trade, but foreign investment. Foreign trade contributes relatively little to US corporate profit. …