Tag Archives: power

No. 2017/02: Bichler & Nitzan, ‘Growing through Sabotage’

July 14, 2017

According to the theory of capital as power, capitalism, like any other mode of power, is born through sabotage and lives in chains – and yet everywhere we look we see it grow and expand. What explains this apparent puzzle of ‘growth in the midst of sabotage’? The answer, we argue, begins with the very … Read More

DiMuzio and Dow, ‘Uneven and Combined Confusion’

February 17, 2017

ABSTRACT This article offers a critique of Alexander Anievas and Kerem Nişancioğlu’s “How the West came to rule: the geopolitical origins of capitalism”. We argue that while all historiography features a number of silences, shortcomings or omissions, the omissions in How the West came to rule lead to a mistaken view of the emergence of … Read More

Fix, ‘Energy and Institution Size’

February 10, 2017

ABSTRACT Why do institutions grow? Despite nearly a century of scientific effort, there remains little consensus on this topic. This paper offers a new approach that focuses on energy consumption. A systematic relation exists between institution size and energy consumption per capita: as energy consumption increases, institutions become larger. I hypothesize that this relation results … Read More

Bichler and Nitzan, ‘A CasP Model of the Stock Market’

December 15, 2016

ABSTRACT Most explanations of stock market booms and busts are based on contrasting the underlying ‘fundamental’ logic of the economy with the exogenous, non-economic factors that presumably distort it. Our paper offers a radically different model, examining the stock market not from the mechanical viewpoint of a distorted economy, but from the dialectical perspective of … Read More

Park and Doucette, ‘Financialization or Capitalization? Debating Capitalist Power in South Korea in the Context of Neoliberal Globalization’

October 26, 2016

ABSTRACT The article reviews debates concerning financialization in South Korea, with a focus on ongoing arguments between liberal, post-Keynesian, institutionalist and Marxist economists. It argues that post-Keynesian and institutionalist perspectives in particular neglect important class processes through which the financial circuit operates within the Korean economy, especially the power of Korea’s large, family-led conglomerates, or … Read More

No. 2015/04: Bichler and Nitzan, “The CasP Project: Past, Present, Future”

December 22, 2015

Working Paper No. 2015/04 Shimson Bichler and Jonathan Nitzan, “The CasP Project: Past, Present, Future” The study of capital as power (CasP) began when we were students in the 1980s and has since expanded into a broader project involving a growing number of researchers and new areas of inquiry. This paper provides a bird’s-eye view … Read More

No. 2015/01: Hager, “Public Debt as Corporate Power”

January 6, 2015

Working Paper No. 2015/01 Sandy Brian Hager, “Public Debt as Corporate Power” In various writings Karl Marx made references to an ‘aristocracy of finance’ in Western Europe and the United States that dominated ownership of the public debt. Drawing on original research, this paper offers the first comprehensive analysis of the pattern of public debt … Read More

No. 2014/05: Fix, “Putting Power Back Into Growth Theory” (Winner of the 2014 RECASP Essay Prize)

January 6, 2015

Working Paper No. 2014/05 Blair Fix, “Putting Power Back Into Growth Theory” * Winner of the 2014 RECASP Essay Prize * 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 … Read More