The various social and economic crises triggered by COVID-19 have revealed and reflected the many forms of contradictions, interdependencies and power asymmetries that underpin our current form of globalised capitalism. While Comparative Capitalisms approaches can provide useful insights into...

We collect observations on how power constitutes itself in decentralized digital platform constellations that position themselves as alternatives to platforms operated by big tech (which we coin "hyperledgers"). We then compare these forms of power to the incumbent structures, the so called...

On December 3, 2024, Michael Hudson met with capital-as-power researchers Jonathan Nitzan, Tim Di Muzio, and Blair Fix to discuss the intersections between their two lines of research. What follows is a transcript of the conversation.

In this paper, I extend the Hein and Stockhammer model of distribution and inflation by incorporating structural trends of financialization through three Kaleckian channels: (1) sectoral recomposition, (2) financial overhead costs and rentiers' profit claims, and (3) the bargaining power of...

This paper proposes a theory of the mark-up that is embedded in a circuit model of the capitalist mode of production. The model and the theory are built on Keynes's principle of effective demand, Graziani's monetary theory of production and Pivetti's monetary theory of distribution. The...

We consider an overlapping generations version of a model suggested by Fargione, Lehmann and Polasky that allows us to show, by means of simulations, that randomness of the rate of return on capital, combined with inheritance of capital and consumption being a concave function of wealth may lead...

This article explores the puzzling ups and downs of Tesla, going through one the most volatile stock market swings of the recent past, under conditions of financialised capitalism. We adopt a conjunctural approach, highlighting both the macro and micro dynamics shaping the firm's financial...

Contributing to the literature on the diversity of capitalism, this article shows how actors in the Polish public services responded to interlinked crises, namely the chronic public services crisis and its aggravation by the COVID-19 pandemic and the arrival of refugees triggered by war in...

Political economy has two major concepts of capital. In one, capital is defined as money. Adam Smith proposed the other, which considers capital as anything that has a role in the creation of wealth even if peripheral. It includes, for instance, machines, the biosphere ("nature capital" or...

This paper proposes a theory of the mark-up that is embedded in a circuit model of the capitalist mode of production. The model and the theory are built on Keynes's principle of effective demand, Graziani's monetary theory of production and Pivetti's monetary theory of distribution. The price-...

The present paper offers a systemic literature review on the concept of degrowth by envisioning its impact on democracy. In so doing it first uses the methodology called SPIDER by building on a number of relevant literatures derived from Scopus. Second, it introduces a variety of degrowth...

The European Capitals of Inclusion and Diversity Award is an example of how exceptional dedication and innovation of towns, cities and regions can positively impact the lives of all. Over the past three editions, more than 220 local authorities have taken the opportunity to demonstrate their...

We study the heterogeneous pass-through of monetary policy across firms with different labor shares. The goal is to obtain evidence on a labor-intensity transmission channel that should in fact be operating for other kinds of demand shocks as well. Our basic idea is that labor is special: unlike...

The European Capitals of Inclusion and Diversity Award is an example of how exceptional dedication and innovation of towns, cities and regions can positively impact the lives of all. Over the past three editions, more than 220 local authorities have taken the opportunity to demonstrate their...

Being the European Green Capital makes citizens proud and spurs local action on environmental projects, making the city more attractive as a destination and a better place to live. The application process helps generate self-promotion and gives the opportunity to compare actions with other...

By providing a working definition of an expatriate colonial business, this article examines the role of the Woermann group's integration into and support of colonialism through trade, plantations, and logistics. Focusing on its activities in Cameroon and the pivotal role of the Woermann Linie...

How can we better understand the relationship between capitalism and democracy today? This article challenges the prevailing "independence thesis" that views capitalism and democracy as separate and often antagonistic systems. By revisiting Adam Smith's integrationist approach to political...

Background and Objective: This paper posits that market-oriented economies foster narcissistic behavior due to their focus on profit, private ownership, competition, and free markets. The research presented demonstrates that while overall levels of narcissism remain stable, certain political...

This paper examines the potential for automation and artificial intelligence (AI) to induce a broader economic decline, impacting not only labor but also the owners of capital and advanced technology. While automation has traditionally favored skilled over unskilled workers, recent advancements...

Taking German Cameroon as an example, this article uses the concept of the colonial intermediary to analyze Africans' role in colonial capitalism. While researchers have shown that the colonial state depended on Africans, the importance of African intermediaries in European trade has hardly been...

Ludwig Mises' interest in large-scale problems concerning the institutional framework and social as well as economic requirements for a well-functioning economy, makes Mises’ writings on supranational governance particularly interesting. Based on a reading of his German language publications...

Auf Inflation mit politischen Maßnahmen zur Stimulierung der Nachfrage zu reagieren, wirft Fragen auf, insbesondere wenn einflussreiche zeitgenössische Ökonomen wie Hans Werner Sinn dies unterstützen, indem sie den Konsum als wachstumsschädlich und unnötig für die Wirtschaft bezeichnen....

Dieser Beitrag rezensiert den außerordentlich lesenswerten Sammelband, den Richard Sturn unter dem Titel 'Joseph Schumpeter und der Staat" in der Nomos-Reihe 'Staatsverständnisse" herausgegeben hat. Zugleich wird herausgearbeitet, dass die Schumpeter Rezeption vor einer groflen Herausforderung...

Purpose Drawing upon a political economy approach, this article aims to analyze the transformations in the labor market within the context of contemporary capitalism, focusing on the phenomenon of financialization. Design/methodology/approach Financialization is defined as a distinct wealth...