A CasP Model of the Stock Market

A CasP Model of the Stock Market
Bichler, Shimshon and Nitzan, Jonathan. (2016). Real-World Economics Review. No. 77. December. pp. 119-154. (Article - Journal; English).

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http://www.paecon.net/PAEReview/issue77/BichlerNitzan77.pdf, https://www.academia.edu/30367640/A_CasP_Model_of_the_Stock_Market

Abstract or Brief Description

Most explanations of stock market booms and busts are based on contrasting the underlying 'fundamental' logic of the economy with the exogenous, non-economic factors that presumably distort it. Our paper offers a radically different model, examining the stock market not from the mechanical viewpoint of a distorted economy, but from the dialectical perspective of capitalized power. The model demonstrates that (1) the valuation of equities represents capitalized power; (2) capitalized power is dialectically intertwined with systemic fear; and (3) systemic fear and capitalized power are mediated through strategic sabotage. This triangular model, we posit, can offer a basis for examining the asymptotes, or limits, of capitalized power and the ways in which these asymptotes relate to the historical and ongoing transformation of the capitalist mode of power.



Publication Type

Article - Journal


capital as power crisis mismatch thesis stock market strategic sabotage systemic fear valuation


BN Money & Finance
BN Power
BN Policy
BN Region - North America
BN Resistance
BN Value & Price
BN Business Enterprise
BN Capital & Accumulation
BN Civilization & Social Systems
BN Class
BN Conflict & Violence
BN Crisis
BN Distribution
BN Institutions

Depositing User

Jonathan Nitzan

Date Deposited

10 Dec 2016 15:54

Last Modified

27 Aug 2017 01:24



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