Blog

Central banking and the governance of the price architecture

July 16, 2014
If the Bank of England sets a negative interest rate, it could encourage lending.

With the Bank of England signalling an impending interest rate rise, monetary policy has returned to centre stage.  Since 2008 we have lived through a period of extremely unorthodox monetary policy characterised by unprecedentedly low interest rates. This era of ‘cheap money’ may now be about to end and a return to ‘normality’ (interest rates … Read More

The Story of Machines vs. Labour

July 8, 2014
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The replacement of labour by machines has brought many improvements in social well-being. New machines have made a wide variety jobs safer and less physically debilitating. Yet, the process is far from decisively good, with many attendant ills. Consider the mechanization of fishing boats. Fishing is a dangerous activity and having fewer workers on the … Read More

The Geopolitical Economy of the Ethanol Boom

June 26, 2014
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The corn-ethanol boom represents one of the most dramatic changes in the world food system in recent decades. The ethanol sector now absorbs around 40% of the corn produced in the US. Surging biofuels production (of which US corn-ethanol production accounts for about half) is widely considered to have played a key role in driving … Read More

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Publications

Wal-Mart’s Power Trajectory: A Contribution to the Political Economy of the Firm

March 16, 2014
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This article offers a power theory of value analysis of Wal-Mart’s contested expansion in the retail business. More specifically, it draws on, and develops, some aspects of the capital as power framework so as to provide the first clear quantitative explication of the company’s power trajectory to date. After rapid growth in the first four … Read More

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

January 14, 2014
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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

The Capitalist Mode of Power: Critical Engagements with the Power Theory of Value

August 26, 2013
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This edited volume offers the first critical engagement with one of the most provocative and controversial theories in political economy: the thesis that capital can be theorized as power and that capital is finance and only finance. The book also includes a detailed introduction to this novel thesis first put forward by Nitzan and Bichler … Read More

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Working Papers

No. 2014/03: Baines, “The Ethanol Boom and the Restructuring of the Food Regime”

July 16, 2014
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Working Paper No. 2014/03 Joseph Baines, “The Ethanol Boom and the Restructuring of the Food Regime” [A shorter version of this paper is forthcoming at The Journal of Peasant Studies] The agrofuel boom has brought about some of the most significant transformations in the world food system in recent decades. A rich and diverse body … Read More

No. 2014/02: Fix, “Rethinking Profit: How Redistribution Drives Growth”

April 7, 2014
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Working Paper No. 2014/02 Blair Fix, “Rethinking Profit: How Redistribution Drives Growth” Using a combination of heterodox economics and biophysical analysis, this paper investigates the relationship between economic distribution and the growth of material throughput. Empirical results show that the growth of “useful work” correlates with redistribution towards pro fit. Furthermore, increases in energy consumption are correlated … Read More

No. 2014/01: McMahon, “Capitalist Power, Distribution and the Order of Cinema”

March 18, 2014
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Working Paper No. 2014/01 James McMahon, “Capitalist Power, Distribution and the Order of Cinema” In this paper, the structure of Hollywood film distribution will be analyzed through the lens of risk. In both its technical and conceptual senses, risk is relevant to the study of Hollywood’s dominant firms. In the interest of lowering risk, the business … Read More

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Critical Mass Forum

Research • JMP

July 23, 2014

JMP Statistical Discovery is a powerful menu-driven alternative to Excel. It is particularly useful for exploring data properties and relationships.JMP's ...

Community • Re: what are you reading? (casp edition)

July 16, 2014

I just finished reading Cormac McCarthy's All the Pretty Horses. It is definitely more romantic than the other McCarthy books I've written, although I've ...

Political Economy • Re: Piketty on Empirical Research

July 16, 2014

Very good!Although, unfortunately, it seems that despite the book's popularity, few will read those lines. According to a measurement known as The Hawking ...

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