Blog

Kevin O’Leary, the Distillation of Capital

April 1, 2014

Television personality Kevin O’Leary is best known as the ‘asshole’ on the investment reality shows Dragon’s Den, in Canada, and Shark Tank, in the United States. The shows have self-styled entrepreneurs bring forth their inventions or business ideas in hopes of attracting investment from a panel of capitalists, which includes O’Leary. He has established himself … Read More

The Weekly Sabotage: Week 6

March 5, 2014
money-printing

The Capitalization of Money Creation: The Greatest Sabotage in Human History? Every year in my course on Political Economy in the New Millennium I ask my students to do an exercise.  The task is for them to ask three members of their friends or family how money is created.  As you can imagine, the answers … Read More

How sincere is Mr. Kerry about climate change?

February 27, 2014
kerry pic

Speaking to students in Jakarta, Indonesia, US Secretary of State, John Kerry, declared a few days ago that climate change is the world’s “most fearsome” weapon of mass destruction. Likening climate change to terrorism, Kerry stated that “It doesn’t keep us safe if the United States secures its nuclear arsenal while other countries fail to … Read More

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Publications

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

March 16, 2014
walmart_protest

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
prison

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
Benjamin-Franklin-U.S.-$100-bill

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. 2014/02: Fix, “Rethinking Profit: How Redistribution Drives Growth”

April 7, 2014
writing

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
writing

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

No. 2013/01: Bichler and Nitzan, “Can Capitalists Afford Recovery?”

October 17, 2013
writing

Working Paper No. 2013/01 Shimshon Bichler and Jonathan Nitzan, “Can Capitalists Afford Recovery? Economic Policy When Capital Is Power” Abstract: Economic, financial and social commentators from all directions and persuasion are obsessed with the prospect of recovery. The world remains mired in a deep, prolonged crisis, and the key question seems to be how to … Read More

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Critical Mass Forum

Political Economy • Re: Recommend some good political economy

April 15, 2014

I continue to be fascinated with economist's attempts to derive quantity measure's of output. Usually, textbook examples stick to the quantity of goods ...

Political Economy • Re: Birmingham Workshop: Global Economic Crisis

April 11, 2014

Thanks Troy!The organizers will be posting our responses on the university's blog, I'll be sure try to incorporate these aspects in the final version.

Statistics: ...

Research • Re: Rethinking Profit

April 7, 2014

Some recent thoughts:Nitzan pointed out to me that the strongest correlation between rates of change of useful work and profit share of national income ...

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