• Medientyp: E-Artikel
  • Titel: A CasP Model of the Stock Market
  • Beteiligte: Bichler, Shimshon [Verfasser:in]; Nitzan, Jonathan [Verfasser:in]
  • Erschienen: Toronto: The Bichler and Nitzan Archives, 2016
  • Sprache: Englisch
  • Schlagwörter: strategic sabotage ; systemic fear ; mismatch thesis ; capital as power ; crisis ; stock market ; valuation
  • Entstehung:
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  • Beschreibung: 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.
  • Zugangsstatus: Freier Zugang
  • Rechte-/Nutzungshinweise: Namensnennung - Nicht-kommerziell - Keine Bearbeitung (CC BY-NC-ND)