Tag Archives: capital

Agent-Based Models and the Ghost in the Machine

October 7, 2019

Originally published on Economics from the Top Down. In the opening post of this blog, I described my ‘top-down’ approach to studying society. This means studying groups of people without trying to reduce everything to the actions of individuals. It’s not that I think individual actions are unimportant. Of course they are important. The problem … Read More

Groping in the Dark: The Untold Side of Research

October 2, 2019

Originally published on Economics from the Top Down. There is an exciting side of blogging that I want to explore here. Blogging can tell the story behind research. This is something you don’t get in journals. Most scientific articles obey a formula that goes like this: Here is the question I asked. Here is how … Read More

Video: Can Capitalists Afford Economic Growth? An Animation

September 15, 2019

Elvire Thouvenot has produced an animated video that summarizes the key points of Bichler and Nitzan’s 2014 paper “Can Capitalists Afford Recovery? Three Views on Economic Policy in Times of Crisis.” This paper was first printed in Review of Capital as Power. It was reprinted in Philosophers for Change. Watch the video below:    

Real GDP: The Flawed Metric at the Heart of Macroeconomics

August 2, 2019

ABSTRACT The study of economic growth is central to macroeconomics. More than anything else, macroeconomists are concerned with finding policies that encourage growth. And by ‘growth’, they mean the growth of real GDP. This measure has become so central to macroeconomics that few economists question its validity. Our intention here is to do just that. … Read More

Sharp, ‘Corporate Urbanization: Between the Future and Survival in Lebanon’

April 14, 2019

ABSTRACT If you look today at the skyline of downtowns throughout the Middle East and beyond, the joint-stock corporation has transformed the urban landscape. The corporation makes itself present through the proliferation of its urban mega-projects, including skyscrapers, downtown developments and gated communities; retail malls and artificial islands; airports and ports; and highways. Built into … Read More

Fix, ‘Dematerialization Through Services: Evaluating the Evidence’

March 16, 2019

ABSTRACT Dematerialization through services is a popular proposal for reducing environmental impact. The idea is that by shifting from the production of goods to the provision of services, a society can reduce its material demands. But do societies with a larger service sector actually dematerialize? I test the ‘dematerialization through services’ hypothesis with a focus … Read More

2019/01: Bichler & Nitzan, ‘Differential Accumulation versus Veblen’s “Differential Advantage” (Revised and Expanded)’

January 30, 2019

This paper clarifies a common misrepresentation of our theory of capital as power, or CasP. Many observers tend to box CasP as an ‘institutionalist’ theory, tracing its central process of ‘differential accumulation’ to Thorstein Veblen’s notion of ‘differential advantage’. This view, we argue, betrays a misunderstanding of CasP, Veblen or both. First, we are not … Read More

Capitalism’s Deniers

January 8, 2019

Originally published at Real World Economics Review Blog. from Shimshon Bichler and Jonathan Nitzan A new, capitalism-denying book is on the shelves, and it makes a stunning discovery: ‘Capitalism without competition is not capitalism’! Distortions: Capitalism Denied Capitalist crisis, like climate change, tends to breed ‘capitalism deniers’. The problem, argue the deniers, lies not in capitalism but in … Read More