Capitalism - Economy Studies

In this short video, John Holmwood problematizes Marxian Economics from a post-colonial perspective.

Since the 1980s, the financial sector and its role have increased significantly. This development is often referred to as financialization. Authors working in the heterodox tradition have raised the question whether the changing role of finance manifests a new era in the history of capitalism. The present article first provides some general discussion on the term financialization and presents some stylized facts which highlight the rise of finance. Then, it proceeds by briefly reviewing the main arguments in the Marxian framework that proposedly lead to crisis. Next, two schools of thought in the Marxian tradition are reviewed which consider financialization as the latest stage of capitalism. They highlight the contradictions imposed by financialization that disrupt the growth process and also stress the fragilities imposed by the new growth regime. The two approaches introduced here are the Social Structure of Accumulation Theory and Monthly Review School. The subsequent part proceeds with the Post-Keynesian theory, first introducing potential destabilizing factors before discussing financialization and the finance-led growth regime. The last section provides a comparative summary. While the basic narrative in all approaches considered here is quite similar, major differences stem from the relationship between neoliberalism and financialization and, moreover, from the question of whether financialization can be considered cause or effect.

Dialogische Kommunikation ist von zentraler Bedeutung für die Plurale Ökonomik. Der Beitrag verfolgt das Anliegen, eine ‚gute Diskurskultur‘ als Grundlage Pluraler Ökonomik zu stärken. Vor dem Hintergrund der sozialökologischen Krisen unserer Zeit wird zudem das Ziel einer anwendungsbezogenen, gestaltenden Pluralen Ökonomik erörtert. Das beschriebene innovative Vorgehen stellt einen Versuch dar, …

Asset Management firms control large parts of the global economy. Just the three American asset management firms - BlackRock, Vanguard and State Street - manage more than half of the combined value of all shares for companies in the S&P 500. Their combined managed assets amount to $22 trillion (May …

What does the financialization of housing, weakened pension rights, and land grabbing have in common with 2020's post-pandemic crisis? David Harvey explains how these are all results of the increased tendency of accumulation by dispossession, where profits today are mostly generated by dispossession after a crisis and not by production. Will governments in every part of the world be able to prevent that pattern from happening again in the near future?

Philosopher and political economist John Stuart Mill laid several foundations for liberal thinking, amongst others with the harm principle: everyone should be given the individual freedom - and not be hindered by e.g. state intervention - to act as s/he wants as long as no other person is harmed by this action. A short insight in his book On Liberty.