Capital as Power
A Study of Order and Creorder
Publication Date: May 2009
Other Editions of This Title: Hardcover
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Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an economic entity that they count in universal units of utils or abstract labour, respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most the accumulation of capital.
This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape or creorder their society.
Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of capital as power and a new history of the capitalist mode of power .
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For its 10th anniversary, the festival celebrates those who have dared to stand ‘on the edge,’ risking their careers, and sometimes their lives, to speak out for their art and beliefs. Join us for a wide range of events, including debates, one-on-one conversations, participatory workshops and performances in venues throughout the city. Use the code PEN14 (use PEN2014 for events at The Public Theater) and receive a 20 percent discount on most events. www.worldvoicesfestival.org