How do we make sense of the role of different participants in futures markets? According to the conventional wisdom, market participants can be put into two different categories: hedgers and speculators. Hedgers, such as farmers and other commercial entities, assume positions in the futures market that are equal and opposite to their positions in physical markets. … Read More
Canadians take pride in Tim Hortons. It is an icon of contemporary Canadiana. When news emerged that Burger King (BKW) was planning a takeover, the media was filled with stories of people’s outrage. The political economic issues this raises are myriad. For example, what value is there to the passion of Canadians for Tim Hortons … Read More
This series of posts will explore some contemporary fields in “complexity science”. They summarize experiences from the Santa-Fe Institute Complex Systems Summer School 2014, with the hope of suggesting to readers useful research tools for political-economy. Please feel free to contact the author if you are interested in discussing or utilizing any of the approaches … Read More
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
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
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
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
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 profit. Furthermore, increases in energy consumption are correlated … Read More
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
This call for papers from the Transnational Institute on the subject of power looks interesting: http://www.tni.org/article/call-papers- ... wer-report
Fascinating discussion, guys (Troy you always ask the important questions!). There was an article about the finances of ISIS or IS in the FT a couple ...
For those interested, the Institute for New Economic Thinking has just announced another round of grant applications. The deadline for applications is ...
Sandy Brian Hager
Shimshon Bichler and Jonathan Nitzan
Tim Di Muzio interviews Shimshon Bichler and Jonathan Nitzan