By Jonathan Nitzan
Conventional theories of capitalism are mired in a deep quandary: after centuries of dialogue, they're nonetheless not able to inform us what capital is. Liberals and Marxists either reflect on capital as an ‘economic’ entity that they count number in common devices of ‘utils’ or ‘abstract labour’, respectively. yet those devices are absolutely fictitious. not anyone has ever been in a position to detect or degree them, and for a great cause: they don’t exist. considering liberalism and Marxism depend upon those non-existing devices, their theories grasp in suspension. they can not clarify the method that concerns such a lot – the buildup of capital.
This e-book deals an intensive substitute. in response to the authors, capital isn't a slender fiscal entity, yet a symbolic quantification of energy. It has little to do with software or summary labour, and it extends a long way past machines and creation strains. Capital, the authors declare, represents the geared up energy of dominant capital teams to reshape – or creorder – their society.
Written in uncomplicated language, available to put readers and specialists alike, the ebook develops a unique political economic climate. It takes the reader during the heritage, assumptions and obstacles of mainstream economics and its linked theories of politics. It examines the evolution of Marxist pondering on accumulation and the nation. And it articulates an cutting edge concept of ‘capital as energy’ and a brand new historical past of the ‘capitalist mode of power’.
Read or Download Capital as Power: A Study of Order and Creorder (RIPE Series in Global Political Economy) PDF
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Extra info for Capital as Power: A Study of Order and Creorder (RIPE Series in Global Political Economy)
So we're nonetheless in a bind. whereas funds source of revenue is often discounted to its current worth, there is not any strategy to attach the ensuing buck capitalization with the ‘physical volume’ of the so-called underlying capital items. At this aspect, then, the neoclassical seek must have been known as off. remember that, that didn’t occur. to the contrary, the search for the Holy Grail maintains unabated. Neoclassical analysts and theorists stay confident, at the present time might be greater than ever, that there exists an invisible bridge among the below international of machines and know-how and the over international of discounted capitalization. and so they definitely have positioned their mouth the place the cash is.