High volatility and enormous international capital flows are negative effects of the globalization of financial markets that can lead to financial crises like those of the 1990s. The Tobin tax often has been put forward as a measure to diminish globalization risks since it is claimed to...

The recent shift from ‘global villageism’ to the ‘new wars’ revealed a deep crisis in heterodox political economy. The popular belief in neoliberal globalization, peace dividends, fiscal conservatism and sound finance that dominated the 1980s and 1990s suddenly collapsed. The early 2000s...

The paper offers a new theoretical framework for linking inflation and accumulation, with the Israeli experience as a case study. The focal point is the process of differential accumulation by the largest core firms. The theory of differential accumulation suggests that the relative power of...

This paper offers a new theoretical approach for comparing the current political-economic U-turns in South Africa and Israel. Our principal focus is on a revised notion of capital, emphasizing the central role of differential accumulation by dominant capital groups. We further distinguish...

Since the late 1980s, Israel has been undergoing a profound transformation, characterized by reconciliation with its Arab neighbours and attempts to reintegrate into the regional economy, a transition from a militarized economy to open markets, and a decline of the collectivist ethos in favour...

Existing theories of capital, neo-classical as well as Marxist, are anchored in the material sphere of production and consumption. This article offers a new analytical framework for capital as a crystallization of power. The relative nature of power requires accumulation to be measured in...

This is the second in a series of two articles looking into the interaction between differential capital accumulation and Middle East “energy conflicts.” Examining the historical record since the late 1960s, we find US policies to have been increasingly consistent with the coinciding...

This paper offers a new approach to the political economy of armament, focusing on the relationship between military spending and differential accumulation in mature capitalist economies. Applied to the “model” case of Israel, our analysis suggests that the militarization of Israel’s...