The Asymptotes of Power
Bichler, Shimshon and Nitzan, Jonathan. (2012). Real-World Economics Review. No. 60, June. pp. 18-53. (Article - Journal; English).
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Abstract or Brief Description
This is the latest in a series of articles we have been writing on the current crisis. The purpose of our previous papers was to characterize the crisis. We claimed that it was a 'systemic crisis', and that capitalists were gripped by 'systemic fear'. In this article, we seek to explain why. The problem that capitalists face today, we argue, is not that their power has withered, but, on the contrary, that their power has increased. Indeed, not only has their power increased, it has increased by so much that it might be approaching its asymptote. And since capitalists look not backward to the past but forward to the future, they have good reason to fear that, from now on, the most likely trajectory of this power will be not up, but down. The paper begins by setting up our general framework and key concepts. It continues with a step-by-step deconstruction of key power processes in the United States, attempting to assess how close these processes are to their asymptotes. And it concludes with brief observations about what may lie ahead.
Publication TypeArticle - Journal
Keywordscapitalization distribution power systemic crisis United States
SubjectBN Money & Finance
BN Conflict & Violence
BN Region - North America
BN Business Enterprise
BN Capital & Accumulation
BN Value & Price
Depositing UserJonathan Nitzan
Date Deposited20 Jun 2012
Last Modified09 Apr 2016 22:07
Available Versions of this Item
The Asymptotes of Power. (deposited 27 Feb 2012)
- The Asymptotes of Power. (deposited 20 Jun 2012) [Currently Displayed]
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