“The 1% and the Rest of Us” — Tom Mills Interviews Tim Di Muzio

July 3, 2015

Tim DiMuzio is lecturer in International Relations and public policy University of Wollongong in Australia.  His book, The 1% and the Rest of Us: A Political Economy of Dominant Ownership, examines the insular lives of the global super rich, the socio-economic system they head, and their restless drive to dominate society and nature.  NLP’s Tom … Read More

Performing the Real-Nominal Bifurcation

May 11, 2015

The Globe & Mail recently published a roundup of seven analyses of the Canadian housing sector. All of the analyses took some position on whether or not housing in Canada is “overvalued.” The positions ranged from 60 percent overvalued to seven percent under-valued. Regardless of the position, all of the analyses – at least as … Read More

Patriarchy above the glass ceiling

April 28, 2015

The logic of accumulation is not the only logic that motivates capitalists. As fully actualized human beings, they remain complex in their desires. Rather, the logic of accumulation is dominant and, Nitzan and Bichler argue, pervasive and ascendant; increasingly operating beyond the business domain. However, the other logics, or principles of behaviour, that inform people’s … Read More

Profits and Terror in Argentina in the 1970s

February 21, 2015

New data on the profitability of Argentina’s largest corporations help explain the origins of its last military dictatorship. During Argentina’s military dictatorship of 1976-1983, up to 30,000 people were killed by the armed forces. Figure 1 provides an indication of why.

Differential Taxation: A Convergence of Interests between American Banking and Government

February 13, 2015

Recommended reading by the Transnational Institute (TNI) of Policy Studies: This paper demonstrates that the interests of American banking and government have converged since the early 1980s and relates this trend to modern financial deregulation, revealing a symbiosis that would later influence the global financial crisis of 2007-2008. An examination of corporate profit and taxation … Read More

Stock Buybacks vs Greenfield Investment

December 10, 2014

In his November 29, 2013 piece, ‘Low Capex, High Market Cap: A New High for Corporate Sabotage?’, Edward Lam lends support to CasP’s sabotage thesis by showing how firms with relatively low ‘greenfield’ investment outperform those with relatively high ‘greenfield’ investment. A recent FT article, titled “Money Well Spent?” (Tom Braithwaite, Nicole Bullock and Michael … Read More

The Rise and Fall of Debate in Economics

December 10, 2014

 New data illustrate the extent to which economists have stopped discussing each other’s work. Once upon a time, economists regularly used to publicly criticise each other’s work in academic journals. But not any more. In Figure 1 I have illustrated the degree to which economists have stopped debating. The data have been culled from Jstor, the online database of … Read More

The Oil Price: Differential Accumulation and Punishing One’s Rivals

November 27, 2014

According to some forecasters the price of oil might hit $75 a barrel soon. Goldman Sachs has even predicted a $70 barrel of West Texas Intermediate (WTI) in 2015. If the price does drop this low it will be a dramatic change from the recent status quo; a relatively stable, higher price of over 90 … Read More