by Ismael Hossein-zadeh
The Federal Reserve Bank is shrouded in a number of myths and mysteries. These include its name, its ownership, and its presumed commitment to market stability, economic growth and public interest. Continue reading Taking notes 54: Who owns the Federal Reserve Bank and why is it shrouded in myths and mysteries?
by Ismael Hossein-zadeh
by Jeff Noonan Interpreted from the perspective of revolutionary politics, the relationship between the local and the global is at once spatial and temporal. Life unfolds in the here and now, but the forces that structure actions in the here … Continue reading The dialectic of the local and the global
by Shimshon Bichler and Jonathan Nitzan The Mismatch Thesis What do economists mean when they talk about ‘capital accumulation’? 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
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?
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
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
by Henry A. Giroux Fred Jameson has argued that “it is easier to imagine the end of the world than to imagine the end of capitalism.” He goes on to say that “We can now revise that and witness the … Continue reading Protesting Youth in an Age of Neoliberal Savagery
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
by Henry A. Giroux Noam Chomsky is a world renowned academic best known not only for his pioneering work in linguistics but also for his ongoing work as a public intellectual in which he has addressed a number of important … Continue reading Noam Chomsky and the public intellectual in turbulent times
by Shimshon Bichler and Jonathan Nitzan Preamble Over the past few years, we have written a series of articles about the global crisis. 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