#capitalaspower

[friendlyneighborhoodcasper]

Capital is a symbolic quantification of power.

#capitalaspower

[spookywagonn]

Equity and debt have very little to do with material wealth and everything to do with systemic power

Capital as Power, Jonathan Nitzan

#capitalism #capital #marxism #economy #debt #capitalaspower #power

[friendlyneighborhoodcasper]

<<Technofeudalism: Explaining to Slavoj Zizek why I think capitalism has e...>> I think that if you define capitalism using Neoclassical or Marxist economic views, then he might have a point. But capitalists themselves have not viewed capitalism along those line in a very long time. If profit was the yardstick that made capitalism the dominant system on the planet, and profitability is now seen going out the window, then there is a point to be made. But profitability has not been the yardstick for quite a while now. Market share is the yardstick. Amazon isn't profitable in the neoclassical or Marxist sense, and yet it absolutely dominates in market share. Tesla only barely makes a profit compared to it overall market capitalization, but it dominates in market share. Facebook's profits barely make a dent compared to its market cap, but it dominates in market share. So I think while there are some valid points in the discussion with regards to tech companies being the new Dominant Capital, viewing the current political economy through a Neoclassical or a Marxist lens is going to lead to the wrong conclusions.

#capitalaspower

[friendlyneighborhoodcasper]

Main Stream Economists: Capital accumulation is measured in the total of produced capital goods and services, and consumption of those goods and services. Dominant Capital: Actually, we measure our power in terms of capitalization. Main Stream Economists: But... the GDP... Dominant Capital: That's your thing, not ours.

#capitalaspower

[friendlyneighborhoodcasper]

The legal–organizational entity of the corporation and the network of institutions and organs that make up government are part and parcel of the same encompassing mode of power.

#capitalaspower

[friendlyneighborhoodcasper]

In the real world the quantum of capital exists as finance, and only as finance.

#capitalaspower

[friendlyneighborhoodcasper]

Neoclassical political economy is largely an ideology in the service of the powerful.

#capitalaspower