Putting Power Back Into Growth Theory

June 29, 2015

ABSTRACT Neoclassical growth theory assumes that economic growth is an atomistic process in which changes in distribution play no role. Unfortunately, when this assumption is tested against real-world evidence, it is systematically violated. This paper argues that a reality-based growth theory must reject neoclassical principles in favour of a powercentered approach. Building on Nitzan and … Read More

Free PDF: The Scientist and the Church

May 28, 2015

FROM THE BACK COVER The Scientist and the Church is a wide-ranging biography of research, showcasing Bichler and Nitzan’s attempts to break through the stifling dogmas of the academic church and chart a new scientific cosmology of capitalism. Central to the authors’ work is the notion that capital is not a productive economic category but … Read More

Ascent of Giants: NAFTA, Corporate Power and the Growing Income Gap

February 12, 2015

There is growing awareness in Canada of how unequal society is becoming. It is probably most obvious in the gap between the compensation of Canada’s highest paid corporate executives and the average worker. The political pressure to do something to close this gap, for example by increasing taxes at the top of the income spectrum, is significant. At the … Read More

The 1% and the Rest of Us: A Political Economy of Dominant Ownership

January 24, 2015

One of the major accomplishments of the Occupy movement has been to draw global attention to the massive disparity of income, wealth, and privilege concentrated in one percent of the world’s population.  In The 1% and the Rest of Us, Tim Di Muzio offers the first empirical and theoretical study of the culture, politics, built … Read More

Malik on The Ontology of Finance: Price, Power, and the Arkhéderivative

June 24, 2015

FROM THE EDITOR’S INTRODUCTION In what promises to be a significant contribution to political economy, Malik seeks to combine the philosophical understanding of the nature and logic of the derivatives market with an analysis of the entirely novel, structurally-specific mode of capitalist power it expresses. This ambitious ‘ontology of finance’ supplements Ayache’s understanding of the … Read More

Fuel, Feed and the Corporate Restructuring of the Food Regime

February 19, 2015

The agrofuel boom has brought about some of the most significant transformations in the world food system in recent decades. A rich and diverse body of agrarian political economy research has emerged that elucidates the conflicts and redistributional shifts engendered by these transformations. However, less attention has been given to differences within agri-food capital. This … Read More

The Plutonomy of the 1%: Dominant Ownership and Conspicuous Consumption in the New Gilded Age

February 12, 2015

This article offers a study on the plutonomy of dominant owners and what their consumptive practices might tell us from the lens of the capital as power framework in IPE. I argue that the differential consumption of dominant owners is an important dimension of an internationalised capitalist mode of power for two reasons. First, Nitzan … Read More

Rethinking Economic Growth Theory From a Biophysical Perspective

December 29, 2014

Neoclassical growth theory is the dominant perspective for explaining economic growth. At its core are four implicit assumptions: 1) economic output can become decoupled from energy consumption; 2) economic distribution is unrelated to growth; 3) large institutions are not important for growth; and 4) labor force structure is not important for growth. Drawing on a … Read More