הקפיטליזם שולט בעולם. דיונים סוערים מתנהלים בין המלומדים הממסדיים לבין "הביקורתיים" על טיבו של הקפיטליזם הגלובלי. הבעיה היא שטיבו של המוסד המרכזי בקפיטליזם -- ההון...

This paper clarifies a common misrepresentation of our theory of capital as power, or CasP. Many observers tend to box CasP as an ‘institutionalist’ theory, tracing its central process of ‘differential accumulation’ to Thorstein Veblen’s notion of ‘differential advantage’. This...

Nowadays, it is commonplace to claim that the economy overuses our limited material and energy resources and that this overuse threatens both human society and the biosphere. Other than anti-science cranks, the only ones who seem to deny this claim are mainstream economists. In our view, though,...

According to the theory of capital as power, capitalism, like any other mode of power, is born through sabotage and lives in chains – and yet everywhere we look we see it grow and expand. What explains this apparent puzzle of ‘growth in the midst of sabotage’? The answer, we argue, begins...

There is much debate over the distributive share of employees in national income – how to measure it, whether it goes up or down and, of course, why it matters. But something in this debate often seems amiss. Like many aggregates, the national income share of employees is a synthetic measure....

The theory of capital as power (CasP) is radically different from conventional political economy. In the conventional view, mainstream as well as heterodox, capital is seen a 'real' economic entity engaged in the production of goods and services, and capitalism is thought of as a mode of...

Colin Harrison's novel The Finder (2008) uncovers the hidden hierarchy of differential information. We live in a knowledge economy, or so they say. And in the world of finance, knowledge is power: the power to buy assets before their price appreciates. This knowledge-as-power, though, is...

A lot has been written on the imminent decline of pharmaceuticals: their falling production, reduced R&D, declining innovation, the opioid crisis, patent cliffs, biting competition from generic drugs, growing opposition to IPR. The list goes on. Judging by the yardsticks that matter the most,...

Las teorías convencionales del capitalismo están sumidas en una profunda crisis: tras siglos de debates todavía son incapaces de decirnos qué es el capital. Tanto liberales como marxistas se refieren al capital como una entidad 'económica' que puede ser contabilizada en unidades universales...

...Looking forward, the prognosis for capitalists seems negative. Over the last few years, unemployment has fallen sharply, and if the predictive power of our chart remains intact, the capitalist income-share-read-power is bound to contract further, raising the ante for a prolonged accumulation...