Comments on Bichler and Nitzan’s 2012 Paper ‘Capital as Power: Toward a New Cosmology of Capitalism’

Comments on Bichler and Nitzan’s 2012 Paper ‘Capital as Power: Toward a New Cosmology of Capitalism’
Ikonoclast, Anonymous. (2019). John Quiggin. Commentary on Australian and world events from a socialist and democratic viewpoint. 13 February. (Review; English).

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Alternative Locations

https://johnquiggin.com/2019/02/12/the-culture-of-financialised-capitalism/, http://www.capitalaspower.com/forum/viewtopic.php?f=4&t=500

Abstract or Brief Description

FROM THE REVIEW:

Here is a quote from their paper:

“Political economy, liberal as well as Marxist, stands on three key foundations: (I) a separation between economics and politics; (II) a Galilean/Cartesian/Newtonian mechanical understanding of the economy; and (III) a value theory that breaks the economy into two spheres – real and nominal – and that uses the quantities of the real sphere to explain the appearances of the nominal one.”

I think Bichler and Nitzan are on the right track in a number of ways but I still do have some key disagreements with them. To illustrate these disagreements I will re-write the statement above in what I regard as the more correct form.

“Conventional economics stands on three key foundations: (I) a separation between economics and politics; (II) a Cartesian/Newtonian mechanical understanding of the economy; and (III) a value theory that breaks the economy into two spheres – real and nominal – that uses the quantities of the real sphere to explain the appearances of the nominal one (ideological justification) and that then uses the quantities of the nominal sphere to manage those of the real sphere (as an instrumental, formalised reason system for the purpose of deriving, in a sense, quantised values for the real).”

To explain these changes. . . .

Language

English

Publication Type

Review

Commentary on

Capital as Power: Toward a New Cosmology of Capitalism
Bichler, Shimshon and Nitzan, Jonathan. (2012). Real-World Economics Review. No. 61, September. pp. 65-84. (Article - Journal; English).

Keywords

capital as power political economy

Subject

BN Methodology
BN Philosophy
BN Theory
BN Capital & Accumulation
BN Civilization & Social Systems
BN Ideology

Depositing User

Jonathan Nitzan

Date Deposited

09 Mar 2019 21:02

Last Modified

09 Mar 2019 22:11

URL:

http://bnarchives.yorku.ca/id/eprint/586

Commentary/Response Threads

• Bichler, Shimshon and Nitzan, Jonathan Capital as Power: Toward a New Cosmology of Capitalism. (deposited 26 Sep 2012)
  • Ikonoclast, Anonymous Comments on Bichler and Nitzan’s 2012 Paper ‘Capital as Power: Toward a New Cosmology of Capitalism’. (deposited 09 Mar 2019 21:02) [Currently Displayed]

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