LSE Public Event: Can Capitalists Afford Recovery? -- Video and Paper

LSE Public Event: Can Capitalists Afford Recovery? -- Video and Paper
Nitzan, Jonathan. (2014). May. (Lecture / Presentation; English).

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Alternative Locations

https://www.youtube.com/watch?v=yhE_yEEo3kg

Abstract or Brief Description

Theorists and policymakers from all directions and of all persuasions remain obsessed with the prospect of recovery. For mainstream economists, the key question is how to bring about such a recovery. For heterodox political economists, the main issue is whether sustained growth is possible to start with. But there is a prior question that nobody seems to ask: can capitalists afford recovery in the first place? If we think of capital not as means of production but as a mode of power, we find that accumulation thrives not on growth and investment, but on unemployment and stagnation. And if accumulation depends on crisis, why should capitalists want to see a recovery?

Video duration: 2:24 hours

Language

English

Publication Type

Lecture / Presentation

Commentary on

Can Capitalists Afford Recovery? Economic Policy When Capital is Power
Bichler, Shimshon and Nitzan, Jonathan. (2013). Working Papers on Capital as Power. No. 2013/0. October. pp. 1-36. (Article - Working Paper; English).

Keywords

crisis DA economic policy economic theory expectations growth income distribution Keynesianism Marxism monetarism neoclassical economics profit underconsumption