Blog

Some Important Limitations of Income Inequality Data

July 11, 2015
Blair Fix Graph

Blair Fix, a PhD student in the Faculty of Environmental Studies at York University in Toronto, points to some important limitations of income inequality data. In a recent posting on capitalaspower.com, Fix shows that, in the case of the U.S., the Top 1% income share correlates not with the share of capitalists in national income (profit … Read More

“The 1% and the Rest of Us” — Tom Mills Interviews Tim Di Muzio

July 3, 2015
new left project

Tim DiMuzio is lecturer in International Relations and public policy University of Wollongong in Australia.  His book, The 1% and the Rest of Us: A Political Economy of Dominant Ownership, examines the insular lives of the global super rich, the socio-economic system they head, and their restless drive to dominate society and nature.  NLP’s Tom … Read More

Performing the Real-Nominal Bifurcation

May 11, 2015
the burbs

The Globe & Mail recently published a roundup of seven analyses of the Canadian housing sector. All of the analyses took some position on whether or not housing in Canada is “overvalued.” The positions ranged from 60 percent overvalued to seven percent under-valued. Regardless of the position, all of the analyses – at least as … Read More

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Publications

Hager on Corporate Ownership of the Public Debt

July 11, 2015
GlobalDebt2011shares

ABSTRACT In various writings Karl Marx made references to an ‘aristocracy of finance’ in Western Europe and the United States that dominated ownership of the public debt. Drawing on original research, this article offers the first comprehensive analysis of public debt ownership within the US corporate sector. The research shows that over the past three … Read More

Putting Power Back Into Growth Theory

June 29, 2015
map

ABSTRACT Neoclassical growth theory assumes that economic growth is an atomistic process in which changes in distribution play no role. Unfortunately, when this assumption is tested against real-world evidence, it is systematically violated. This paper argues that a reality-based growth theory must reject neoclassical principles in favour of a powercentered approach. Building on Nitzan and … Read More

Malik on The Ontology of Finance: Price, Power, and the Arkhéderivative

June 24, 2015
Cover

FROM THE EDITOR’S INTRODUCTION In what promises to be a significant contribution to political economy, Malik seeks to combine the philosophical understanding of the nature and logic of the derivatives market with an analysis of the entirely novel, structurally-specific mode of capitalist power it expresses. This ambitious ‘ontology of finance’ supplements Ayache’s understanding of the … Read More

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Working Papers

No. 2015/03: Bichler and Nitzan, “Capital Accumulation: Fiction and Reality”

June 11, 2015
writing

Working Paper No. 2015/03 Shimshon Bichler and Jonathan Nitzan, “Capital Accumulation: Fiction and Reality” 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 the recent ‘financial crisis’. The very term already attests to … Read More

No. 2015/02: McMahon, “Marxism, Culture and the Measurement of Value”

March 6, 2015
writing

Working Paper No. 2015/02 James McMahon, “Marxism, Culture and the Measurement of Value” Various studies of mass culture use the Marxist labour theory of value to conceptualize how capital is being accumulated from cultural production and its broader social and immaterial dimensions. However, there is a significant methodological problem that lingers. The issue stems from … Read More

No. 2015/01: Hager, “Public Debt as Corporate Power”

January 6, 2015
demonocracy-federal_reserve_money_printing-wall_street_manipulation

Working Paper No. 2015/01 Sandy Brian Hager, “Public Debt as Corporate Power” In various writings Karl Marx made references to an ‘aristocracy of finance’ in Western Europe and the United States that dominated ownership of the public debt. Drawing on original research, this paper offers the first comprehensive analysis of the pattern of public debt … Read More

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Critical Mass Forum

Political Economy • The Discomfort of Science

August 16, 2015

The recently uploaded video from the first Capital as Power conference provides a fascinating glimpse into the fundamental divide between scientific vs ...

Research • Re: Open-Source Data

August 10, 2015

These are excellent sites. I find that I do most of my research from primary government sources, which are all free. Its nice to have everything centralized, ...

Research • Open-Source Data

August 9, 2015

Many data sources, such as WRDS, Bloomberg, Datastream, GFD and Datainsight, are protected by high-pay walls. Here are three alternatives that harvest ...

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