Israeli politics saw major realignments in 1977 and 1992. The effect of long range economic cycles on the nature and outcome of Israeli electoral politics is examined in these two elections.

Over the past century, the institution of capital and the process of its accumulation have been fundamentally transformed. By contrast, the theories that explain this institution and process have remained largely unchanged. The purpose of this paper is to address this mismatch. Using a broad...

Do capitalists really want a recovery? Can they afford it? On the face of it, the question sounds silly: of course capitalists want a recovery; how else can they prosper? According to the textbooks, both mainstream and heterodox, capital accumulation and economic growth are two sides of the same...

During the late 1980s and early 1990s, we identified a new Middle East phenomenon that we called 'energy conflicts' and argued that these conflicts were intimately linked with the global processes of capital accumulation. This paper outlines the theoretical framework we have developed over the...

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...

The flaring up of the Israeli-Palestinian conflict in the early 2000s caught most experts by surprise. The 1990s euphoria of the Oslo ‘peace process’ suddenly dissipated, replaced by a second intifada; the newspeak of ‘peace dividends’ gave way to debates about ‘imperialism’; and instead...

An analysis of the political economy of Israel during the 1990s.

The unravelling of the Middle-East peace process continues to baffle the pundits. The early optimism of the Oslo peace accord has now turned into despair. Prime minister Rabin was assassinated by a Jewish extremist. The Palestinians have embarked on a new Intifada. And Israel has re-occupied...

This article was commissioned by the French newspaper Le Monde. The newspaper was one of several sponsors of an International Conference on Global Regulation, held at the University of Sussex on May 29-31, 2003, where we presented a plenary paper. As part of its sponsorship, Le Monde agreed to...