On December 3, 2024, Michael Hudson met with capital-as-power researchers Jonathan Nitzan, Tim Di Muzio, and Blair Fix to discuss the intersections between their two lines of research. What follows is a transcript of the conversation. A recording of the discussion is available at...

Political economists, both mainstream and Marxist, find it difficult to reconcile the «real» and «financial» appearances of capital. The conventional view is that «real» capital is an objective productive entity; that «finance» merely reflects this reality; and that, unfortunately, the...

Corporate financial economic programs are almost universally featured in economics and management degrees and, therefore, are an essential component of the culture-building process for current and future economists and managers. Nevertheless, these programs are not restricted to financial...

Every initiative that potentially increases the effectiveness of monetary policy is welcome. The European Union's Capital Markets Union (CMU) project is potentially a point in case, even though monetary policy is not a policy target of CMU. Increasingly developed capital markets in the EU are...

Corporate concentration in the United States has been on the rise in recent years, sparking a heated debate about its causes, consequences, and potential remedies. This article examines a facet of public policy that has been neglected in the debate: corporate taxation. Developing the first...

Analysis of the Deepwater Horizon disaster and the accumulative decline of BP demonstrate both the analytical efficacy of the capital-as-power approach to value theory, and the irreducible role of objects in the process of accumulation. Rather than productivity per se, accumulation depends on...

Commodity trading firms occupy a central position in global supply chains and their activities have been associated with financial instability, social upheaval and manifold forms of ecological devastation. This paper examines these companies in the context of debates regarding corporate...

* Winner of the 2021 RECASP Essay Prize * Assets are a crucial concept of the practice and mindset of the capitalist class. Critical analyses of capitalism, however, tend to admit that the exchange of commodities is the foundation of the analysis of capitalism. This article takes a different...

* Winner of the 2022 RECASP Second Essay Prize * Power is usually considered as either a ‘positive’ or ‘negative’ construct, as in the power to force action versus the power to forbid it. This paper explores a hybridized approach to power based on the idea of ‘induced participation’....

In 1997 a review of the financial health of English county cricket highlighted strategic weaknesses within the professional game, principally an over-reliance by clubs on the annual grants provided to them by the England and Wales Cricket Board (ECB). Without such grants the teams, in general...