Tag Archives: United States

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

No. 2016/07: Bichler and Nitzan, ‘A CasP Model of the Stock Market’

November 7, 2016

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 capitalized … Read More

No Way Out: Crime, Punishment and the Capitalization of Power

January 14, 2014

The United States is often hailed as the world’s largest ‘free market’. But this ‘free market’ is also the world’s largest penal colony. It holds over seven million adults – roughly five per cent of the labour force – in jail, in prison, on parole and on probation. Is this an anomaly, or does the … Read More

What Happened to the Bondholding Class? Public Debt, Power and the Top One Per Cent

April 1, 2013

In 1887 Henry Carter Adams produced a study demonstrating that the ownership of government bonds was heavily concentrated in the hands of a ‘bondholding class’ that lent to and, in Adams’s view, controlled the government like dominant shareholders control a corporation.