No. 2016/7: Di Muzio and Noble, ‘The Coming Revolution in Political Economy’

October 26, 2016

Logics AND the Logic of Accumulation

September 1, 2016

The presiding logic of capitalism is that of accumulation. CasP re-emphasizes and re-theorizes accumulation as ‘Moses & the Prophets’ of capitalism. However, Nitzan and Bichler’s theorization severs the link between accumulation and productivity that grounds both mainstream and critical value theory. Instead, they emphasize the meaning of the nominal quantities of capital as a translation … Read More

Protecting the Game from the Players

June 7, 2016
Image from flickr:

In certain circles, Charlie Munger is a demi-god. He is the vice-chairman of Berkshire Hathaway, the holding company controlled by the god of markets himself, or rather, Warren Buffett. The words spoken and written by both Buffett and Munger are treated as divine insights on the way the world works or ought to work. Recently, Munger … Read More

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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

DiMuzio, ‘Energy, Capital as Power and World Order’

October 20, 2016
Burj Khalifa (Dusk) Panorama

ABSTRACT Until late, the subject of energy and its importance for capitalism and the constitution and reconstitution of world order has been sorely overlooked in the international political economy (IPE) literature. Indeed, only two of the major textbooks in IPE have chapters on energy. This is also true of the literature known as classical political … Read More

Sandy Brian Hager, A Global Bond: Explaining the Safe Haven Status of U.S. Treasury Securities

July 28, 2016

ABSTRACT This article offers new theoretical and empirical insights to explain the resilience of U.S. Treasury securities as the world’s premier safe or “risk free” asset. The standard explanation of resilience emphasizes the relative safety of U.S. Treasuries due to a shortage of safe assets in the global political economy. The analysis here goes beyond the standard explanation to highlight … Read More

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Working Papers

No. 2016/6: Pitts, ‘Capital as Power in the Creative Industries’

September 25, 2016

Using Nitzan and Bichler’s understanding of the dissonant relationship between creativity and power and business and industry, this paper investigates the rhythms of freelance creative work. It reports findings from interviews conducted with freelancers working in the Dutch creative industries. The findings suggest that freelancers enjoy more responsibility and autonomy than formal employees. But this autonomy represents a risk that … Read More

No. 2016/5: Cochrane, “Disobedient Things”

August 24, 2016

Analysis of the Deepwater Horizon disaster and the accumulatory decline of BP demonstrates both the analytical efficacy of the capital-as-power (CasP) approach to value theory, and the irreducible role of objects in the process of accumulation. Rather than productivity per se, accumulation depends on control of productivity. Owners’ control is over both the human and … Read More

No. 2016/04: Fix, ‘Energy and Institution Size’

June 20, 2016

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 from … Read More

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BN Archives

2016 Capital as Power Essay Prize

Di Muzio, Tim. (2016). Review of Capital as Power. October. (Other; English).

Financialization or Capitalization? Debating Capitalist Power in South Korea in the Context of Neoliberal Globalization

Park, Hyeng-Joon and Doucette, Jamie. (2016). Capital & Class. OnlineFirst. September. pp. 1-22. (Article - Journal; English).

Energy, Capital as Power and World Order

Di Muzio, Tim. (2016). In The Palgrave Handbook of Critical International Political Economy. Edited by Cafruny, Alan and Talani, Simona and Martin, Gonzalo Pozo. Chapter 14. New York, NY. Macmillan Publishers Ltd., pp. 267-287. (Book Chapter; English).

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Critical Mass Forum

Political Economy • Re: Recommend some good political economy

August 3, 2016

This type of research is easier than I thought. Google has a service called the Ngram Viewer ( that allows you to track the relative frequency of occurrence for various words.

Political Economy • Re: Recommend some good political economy

August 3, 2016

This is not political economy per se, but the research methodology (and results) are fascinating, and I think the technique could lead to very interesting results if applied to other areas.

Political Economy • Re: Do benchmarks have a benchmark?

July 18, 2016

One of CasP central insights is that accumulation is a relative process. Owners assess their fortunes against various benchmarks to evaluate success or failure. A corollary insight is that success can be found even in decline as long as one's decline is less than the average.

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RECASP Journal

Putting Power Back Into Growth Theory

Blair Fix
Vol. 1, No. 2 2015

Can Capitalists Afford Recovery?

Jonathan Nitzan and Shimshon Bichler
Vol. 1, No. 1 2013/2014

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

Joseph Baines
Vol. 1, No. 1 2013/2014

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