May 26, 2009
No, this is not going to be a magnum opus about the evils of capitalism. It is instead an announcement of someone else’s magnum opus about the evils of capitalism (or so I gather).
Jonathan Nitzan and Shimshon Bichler are releasing their new book, Capital as Power: A Study of Order and Creorder, discussing their alternative theory of capital, the power theory of value (in opposition to utility or labor theories). Taking their lead from the Institutional school of economics (the old one; think Veblen), they propose a theory of capital as the quantification of power measured by differential accumulation. Read the rest of this entry »