Capital As Power (권력 자본론)

Capital As Power (권력 자본론).
Bichler, Shimshon and Nitzan, Jonathan (2004). Translated with an Introduction by Gibin Hong. Samin Books. (Book; Korean).

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Abstract or Brief Description

It is hard these days to open a newspaper or watch television without coming across a debate about capitalism. “Globalization,” “imperialism,” and “neoliberalism” have become household words. Experts preach the gospel of productivity, while anti-globalization protestors blame the IMF and transnational companies for much of our social ills. Some view economic growth as a magic bullet, for others it spells ecological disaster. Many interpret the new wars of the twenty first century as serving “economic” interests and the rise of Islamic fundamentalism as a backlash against western “liberalism.” For some capitalism means the “end of history,” for others a source of conflict and an engine of change. No aspect of capitalism seems to escape controversy.

In this context, it is surprising to find little or no debate on the concept which matters the most: capital itself. Capital is the central institution of capitalism and yet we do not have a satisfactory theory to explain it. As it turns out, we do not know precisely what capital is. This omission is crucial. Without a clear definition of capital we cannot fully understand how it works and why. Until we understand capital we are destined to misunderstand our society, misjudge its alternatives and fail to imagine a better future. In order to debate capitalism we first need to debate capital. This book offers a new way to do so. The secret to understanding capital, we argue, lies not in the narrow confines of production but in the broader processes and institutions of power. Capital, we claim, is neither a material object, nor a social relationship embedded in material entities, but rather a symbolic representation of power.



Publication Type



arms accumulation acquisitions capital capitalism centralization competition conflict conglomeration corporation credit crisis debt demographics development distribution dual economy elite energy finance globalization growth imperialism distribution inflation institutionalism IPE labour liberalization Marxism M&A merger methodology Middle East military Mumford national interest security oil OPEC ownership Palestine peace politics power privatization profit ruling class sabotage stagflation stagnation state stock market technology TNC United States US Veblen violence war


BN Science & Technology
BN Agency
BN Business Enterprise
BN Capital & Accumulation
BN Civil Society
BN Civilization & Social Systems
BN Class
BN State & Government
BN Comparative
BN Theory
BN Conflict & Violence
BN Trade
BN Cooperation & Collective Action
BN Value & Price
BN Crisis
BN War & Peace
BN Distribution
BN Growth
BN Hegemony
BN History
BN Ideology
BN Industrial Organization
BN Institutions
BN International & Global
BN Labour
BN Macro
BN Methodology
BN Money & Finance
BN Power
BN Policy
BN Production
BN Region - North America
BN Region - Middle East

Depositing User

Jonathan Nitzan

Date Deposited

23 Nov 2004

Last Modified

27 Mar 2016 17:03


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