Tag Archives: capital

Capital as power and class struggle explained by… Adam Smith?!

In any given society, there is no freedom of contract between capitalist and worker, whose interests are essentially opposite. The power of a landlord, a manufacturer, a merchant resides in his wealth, explaining the inherent subjection of laborers, which lack almost any … Continue reading

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Democracy matters: the extension of the franchise and its impact on financial systems

For centuries, voting rights were limited to wealthy elites, aristocrats, and landlords. For instance,  the electorate in England and Wales in 1780 consisted of less than 3% of the total population. Suffrage reforms, enacted during the late 19th and the 20th … Continue reading

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International Political Economy scholars miss THE question of the 21st century: the rise of a global labor class living in poverty

In the recent years, more and more International Political Economy (IPE) scholars are dissatisfied with the current state of this field of research and desire to identify the ‘Big Questions’ of the 21st century. In this (open access) article, Benjamin … Continue reading

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The original email that started Occupy Wall Street

On September 17, 2011 thousands of women and men gathered in Zuccotti Park, located in New York City’s Wall Street financial district.  It was a day when Occupy Wall Street (#OccupyWallStreet) movement was publicly born, gradually receiving global attention and spawning the … Continue reading

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History of Profit in the US: Corporations, Accounting and Capital

The case of The United Steel Workers of America v. The United States Steel Corporation (1980) concerned the closing of two steel mills in Ohio. The steelworkers claimed U.S. Steel had promised to keep the two mills open so long … Continue reading

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18 focused interpretative digests of each chapter from ‪‎Piketty‬’s “‪‎Capital‬ in the 21st Century”

Read this impressive interpretative review of Thomas ‪Piketty‬’s Capital‬ in the Twenty-First Century – 18 focused posts devoted to each chapter from the book, carefully wrote by Adam David Morton (University of Sydney). Professor Morton clearly summarises each chapter in just a few … Continue reading

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Noam Chomsky on neoliberal semantics: “working class” vs. “middle class”

“The business classes are very class-conscious—they’re constantly fighting a bitter class war to improve their power and diminish opposition. Occasionally this is recognized. We don’t use the term “working class” here [ in the U.S] because it’s a taboo term. … Continue reading

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An interesting talk between David Graeber & Thomas Piketty on debt, capitalism, neoliberalism & inequality

Graeber: “Our feelings of helplessness stem from the fact that for thirty years the tools of persuasion and coercion have been mobilized to wage an ideological war for capitalism, rather than to create conditions for capitalism to remain viable. Neoliberalism … Continue reading

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Analyzing continuity and change in the economy: a double movement between the public and the private meta-fields in society

An interesting (open access) paper “Public and Private: Change and Continuity in Economy through Two Meta-fields in Society” offers a structural general framework to analyse continuity and change in the economy based on the idea that there is a double movement … Continue reading

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‘Capital’ in the University of Chicago bookstore.. Too bad it’s by the wrong author ;-)

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‪Piketty‬, ‎Krugman‬ & ‪‎Stiglitz‬ talk about Piketty’s ‪‎”Capital‬ in the 21st Century”

I always say that ‪‎economists‬’ duty for the ‪‎wealthy‬ is not ingrained in the genetic code of their profession. In general, I would say, these scholars embody this argument.  

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“Inequality for All” – a documentary featuring Professor Robert Reich

Economic inequality affects every one of us. “Inequality for All” is a passionate argument on behalf of the poors and middle class in which Robert Reich- a political economist and Secretary of Labor under Bill Clinton lucidly demonstrates how the … Continue reading

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Name and Shame: Columbia University fired two Public Intellectuals because they hadn’t brought in enough grants

This story should worry everyone who cares about democracy, society and wants academics to play a larger role in public debates. Anthropologists Carole Vance and Kim Hopper, longtime professors at Columbia University’s School of Public Health got fired without compensation after … Continue reading

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Capital Ideas: The IMF and the Rise of Financial Liberalization

Economic sociologists and political economists must not stop their research at the stage of analyzing the policy and its implications, but rather must go deeper and examine how decisions are made within governance bodies and policy making organizations on national and … Continue reading

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Financial Centres and International Capital Flows in the 19th and 20th Centuries

As interest in financial markets intensifies, stimulated by the financial crisis of the early 21st century, Financial Centres and International Capital Flows in the Nineteenth and Twentieth Centuries, a new volume edited by Laure Quennouëlle-Corre and Youssef Cassis, brings together leading authorities in … Continue reading

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