Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/157801 
Erscheinungsjahr: 
2016
Quellenangabe: 
[Journal:] Real-World Economics Review [Issue:] 77 [Publisher:] The Bichler and Nitzan Archives [Place:] Toronto [Year:] 2016 [Pages:] 119-154
Verlag: 
The Bichler and Nitzan Archives, Toronto
Zusammenfassung: 
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.
Schlagwörter: 
capital as power
crisis
mismatch thesis
stock market
strategic sabotage
systemic fear
valuation
URL der Erstveröffentlichung: 
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Dokumentart: 
Article
Dokumentversion: 
Published Version






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