Capital as Power retweeted
This is “the market” in action.
Kleptocrats have the wealth to demand banking services and the banks happily supply.
Look, there's been *another* massive banking leak, this one from @CreditSuisse, showing complicity in laundering money for the world's greatest monsters: human traffickers, despots, criminals. They're calling it #SuisseSecrets.
theguardian.com/news/2022/fe… 1/
ALT A flooded suburban American street; a partially submerged Swiss flag sits in the foreground; atop the flag dances a version of Monopoly's Rich Uncle Pennybags, who has removed his face to reveal a grinning skull.
Capital as Power retweeted
This is just the emissions of just some of their “consumption” assets.
Bill Gates emits 4000x as much as I do. David Geffen, 8000x. This is the collective future of humanity we are talking about here and it is enraging.
theconversation.com/private-…
Capital as Power retweeted
A new briefing by Sandy Hager (@sanha926) and Joseph Baines about the profitability of UK oil-and-gas companies.
capitalaspower.com/2022/02/n…
Capital as Power retweeted
Grassroots Economics for a Better Future: Economist @blair_fix explained why our current economic system is contributing to both the climate and social crises. Episode: youtu.be/u51MDOQ9ygo
Capital as Power retweeted
Economic history @joefrancis505 on slavery in the Antebellum South:
"productivity levels were too low in cotton to attract free labour, so slave labour was a necessary evil for the cotton boom"
capitalaspower.com/2022/02/c…
Capital as Power retweeted
“In the real world, Nitzan observed, price change is always ‘differential’, meaning there are winners & losers.
The consequence is inflation is not purely a ‘monetary phenomenon’, as Friedman claimed. Inflation restructures the social order.”
@blair_fix economicsfromthetopdown.com/…
Capital as Power retweeted
It's time for a thread about research. [thread]
When I was younger, I thought that research had two stages
1. Researching;
2. Writing up your results.
Now I know that this is rarely how it works. 1/
Capital as Power retweeted
I was referring to neoliberalism/capitalism as new-feudalism 15 years ago before I realized that neoliberalism wasn't all that new (just a facelift, really) and capitalism is exactly as it ever was.
Capital as Power retweeted
Some would argue that capitalism was actually worse than feudalism, not an improvement.
Regardless, capitalism has not entered a new phase. This is the way it has been from the beginning.
Capital as Power retweeted
Interesting. Following your framework, if capital is finance and finance is debt, then debt is power "the original form of capitalization". I guess the question is about how human production, debt and property regimes are structured. journals.sagepub.com/doi/10.…
Capital as Power retweeted
Yes, and these claims are misleading.
(1) Profit remains as important as it ever was. (2) Profit always depended on power, not means of production. (3) If 'rent' is earning without contribution, all profit is and always was rent. (4) Debt is the original form of capitalization.
Capital as Power retweeted
I think the claim is that we're living in a phase of transition - from capitalism based mostly on profits and alienation from the means of production - to a neo feudal world based on rent extraction and propertylessness as the basis to the way power is organised via debt, etc
Capital as Power retweeted
Here are the key features of feudal power. You can immediately see different they are from capitalized power.
Capital as Power retweeted
There are increasing references to the 'capitalist mode of power' as 'techno-feudalism.
This equality is puzzling. Feudalism is based on personal fealty, capitalism on universal alienation. How can they be the same?
Ch. 13 bnarchives.yorku.ca/259/
Capital as Power retweeted
(1/n) Why does inflation tend to appear as stagflation? bnarchives.yorku.ca/259/
Thread
Capital as Power retweeted
"Inflation is always and everywhere a phenomenon of structural change." - Jonathan Nitzan
economicsfromthetopdown.com/…
teapaw.org/DanPriceSeattle/status… #PeakRent
teapaw.org/DanPriceSeattle/status…
Sources on that
Gas prices cbsnews.com/news/gas-prices-…
Exxon profit nytimes.com/2022/02/01/busin…
Chevron profit wsj.com/articles/chevron-rak…
Shell profit reuters.com/business/energy/…
BP profit reuters.com/business/energy/…
The companies are using their higher profits on dividends and stock buybacks
Capital as Power retweeted
I loved Blair Fix's writing around peak oil & inflation too:
- economicsfromthetopdown.com/…
- economicsfromthetopdown.com/…
- economicsfromthetopdown.com/…
- economicsfromthetopdown.com/…
- economicsfromthetopdown.com/…
Also capitalaspower.com/ and bnarchives.yorku.ca/
Capital as Power retweeted
Here is a large collection of capital-as-power presentations by different researchers.
youtube.com/user/Creorder