The four horsemen: how the global economy works
Four horsemen: a documentary Continue reading The four horsemen: how the global economy works
Tag: neoclassical economics
Yanis Varoufakis and Noam Chomsky: a dialogue
Yanis Varoufakis and Noam Chomsky: a dialogue Continue reading Yanis Varoufakis and Noam Chomsky: a dialogue
Capital accumulation: fiction and reality
by Shimshon Bichler and Jonathan Nitzan The Mismatch Thesis What do economists mean when they talk about ‘capital accumulation’?[1] Surprisingly, the answer to this question is anything but clear, and it seems the most unclear in times of turmoil. Consider … Continue reading Capital accumulation: fiction and reality
Radical punishment: the economic rationality of the Marquis de Sade
What makes his vision terrifying is that he is able to weave it into a consistency, and reinforces it via a repetitiveness and patience that defies expectations: there is clearly method in the ‘madness.’ And so he can be regarded as a philosopher. Continue reading Radical punishment: the economic rationality of the Marquis de Sade
The weapondollar-petrodollar coalition: still about oil?
by Shimshon Bichler and Jonathan Nitzan 1. The Triangle of Conflict Analyses of modern Middle East conflicts vary greatly. They range from sweeping regional histories to narratives of individual disputes. They draw on various analytical frameworks and reflect different … Continue reading The weapondollar-petrodollar coalition: still about oil?
Taking notes 41: Ideological foundations of neoclassical economics: class interests as “economic theory”
by Ismael Hossein-zadeh There is now a widespread consensus that mainstream/neoclassical economists failed miserably to either predict the coming of the 2008 financial implosion, or provide a reasonable explanation when it actually arrived. Not surprisingly, many critics have argued that … Continue reading Taking notes 41: Ideological foundations of neoclassical economics: class interests as “economic theory”
Can capitalists afford recovery? Three views on economic policy in times of crisis
by Jonathan Nitzan and Shimshon Bichler Economic, financial and social commentators from all directions and of various persuasions are obsessed with the prospect of recovery. The world remains mired in a deep, prolonged crisis, and the key question seems to … Continue reading Can capitalists afford recovery? Three views on economic policy in times of crisis
Taking notes 37: Meritocracy, repression and Piketty’s apocalyptic asymptote
by Sanjay Perera
Much has been said about Thomas Piketty’s important and much talked about book. But not enough has been said about his nuanced wit and jibes at a system of meritocratic capitalism that is starting to merge with the hereditary accumulation and growth of wealth termed as patrimonial capitalism. But then it can also get quite serious. Continue reading Taking notes 37: Meritocracy, repression and Piketty’s apocalyptic asymptote
Capitalist economics and the economics of Capital
by John Weeks Peddling Ideology as Science All social sciences carry a heavy burden of ideology, but none heavier or more explicit than what currently passes for mainstream economics. Critics often complain that economists arrogantly pretend to understand far more … Continue reading Capitalist economics and the economics of Capital
Taking notes 34: The enlightened capitalist
by Shimshon Bichler and Jonathan Nitzan Preamble Over the past few years, we have written a series of articles about the global crisis.[1] These papers try to break the conventional constrains of liberalism and Marxism, examining the crisis from the new theoretical viewpoint of capital as power. Capitalists and corporations, we argue, are driven not to maximize profit, but to ‘beat the average’ and increase their differential power. In this approach, the redistribution of income and assets is not a ‘societal’ side effect of the economy, but the central conflict that propels modern capitalism. And the main weapon in this … Continue reading Taking notes 34: The enlightened capitalist
Philosophers for Change 