A CasP Model of the Stock Market

A CasP Model of the Stock Market
Bichler, Shimshon and Nitzan, Jonathan. (2016). Real-World Economics Review. No. 77. December. pp. 119-154. (Article - Journal; English).

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Alternative Locations

http://www.paecon.net/PAEReview/issue77/BichlerNitzan77.pdf, https://www.academia.edu/30367640/A_CasP_Model_of_the_Stock_Market

Abstract or Brief Description

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.

Language

English

Publication Type

Article - Journal

Keywords

capital as power crisis mismatch thesis stock market strategic sabotage systemic fear valuation

Subject

BN Money & Finance
BN Power
BN Policy
BN Region - North America
BN Resistance
BN Value & Price
BN Business Enterprise
BN Capital & Accumulation
BN Civilization & Social Systems
BN Class
BN Conflict & Violence
BN Crisis
BN Distribution
BN Institutions

Depositing User

Jonathan Nitzan

Date Deposited

10 Dec 2016 15:54

Last Modified

27 Aug 2017 01:24

URL:

https://bnarchives.net/id/eprint/494

Available Versions of this Item

• A CasP Model of the Stock Market. (deposited 07 Nov 2016 03:33)
  • A CasP Model of the Stock Market. (deposited 10 Dec 2016 15:54) [Currently Displayed]

Commentary/Response Threads

• Bichler, Shimshon and Nitzan, Jonathan A CasP Model of the Stock Market. (deposited 10 Dec 2016 15:54) [Currently Displayed]
  • Fix, Blair How the History of Class Struggle is Written on the Stock Market. (deposited 14 Oct 2020 01:02)
  • Fix, Blair Stocks are Up. Wages are Down. What does it Mean? (deposited 14 Oct 2020 00:53)
  • Baines, Joseph and Hager, Sandy Brian Financial Crisis, Inequality, and Capitalist Diversity: A Critique of the Capital as Power Model of the Stock Market. (deposited 20 May 2019 02:24)
    • McMahon, James Reconsidering Systemic Fear and the Stock Market: A Reply to Baines and Hager. (deposited 09 Sep 2021 20:38)
      • Fix, Blair With Great Power Comes Great Fear. (deposited 09 Sep 2021 22:39)
    • McMahon, James Reconsidering Systemic Fear and the Stock Market: A Reply to Baines and Hager. (deposited 01 Jul 2020 19:56)
  • Bichler, Shimshon and Nitzan, Jonathan Can Capitalists Afford a Trumped Recovery? (deposited 30 Jan 2017 09:41)
    • Kolivakis, Leo Can Capitalists Afford a Trumped Recovery. (deposited 05 May 2017 17:52)

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