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Open Access
2016 Capital as Power Essay Prize
(2016) Muzio, Tim Di
The Review of Capital as Power (RECASP) announces an annual essay prize on the subject of capital as power. The best paper will receive a prize of $2000. A prize of $500 will be awarded to the second best contribution, while a $300 prize will be given to the third best article. Submitted articles should not have been published in a refereed journal or book before. The particular topic is open. The paper can be theoretical, historical or empirical, and it may support or critique the capital as power framework. Winning essays will be published (with revisions, if necessary) in the Review of Capital as Power. DEADLINE: January 31, 2017
Open Access
2017 Capital as Power Essay Prize
(2017) Muzio, Tim Di
The Review of Capital as Power (RECASP) announces an annual essay prize on the subject of capital as power. The best paper will receive a prize of $2000. A prize of $500 will be awarded to the second best contribution, while a $300 prize will be given to the third best article. Submitted articles should not have been published in a refereed journal or book before. The particular topic is open. The paper can be theoretical, historical or empirical, and it may support or cri-tique the capital as power framework. Winning essays will be pub-lished (with revisions, if necessary) in the Review of Capital as Power. DEADLINE: January 31, 2018
Open Access
2018 Capital as Power Essay Prize
(2018) Muzio, Tim Di
The Review of Capital as Power (RECASP) announces an annual essay prize on the subject of capital as power. The best paper will receive a prize of $1000. A prize of $500 will be awarded to the second best contribution, while a $300 prize will be given to the third best article. Submitted articles should not have been published in a refereed journal or book before. The particular topic is open. The paper can be theoretical, historical or empirical, and it may support or critique the capital as power framework. Winning essays will be published (with revisions, if necessary) in the Review of Capital as Power. DEADLINE: January 31, 2019
Open Access
Call for Contributions: "The Capitalist Mode of Power: Critical Engagements with the Power Theory of Value"
(2011) Muzio, Tim Di
POSTED BY TIM DI MUZIO: The 2009 publication of Nitzan and Bichler’s Capital as Power: A Study of Order and Creorder has unsettled both heterodox and mainstream theorists of political economy, while igniting debate across the social sciences. Building on decades of research, their book offers not only a provocation to all political economists, but also a new approach to studying capital and capitalist sociality as a mode of power. This collection, edited by Tim DiMuzio, aims to bring together scholars and practitioners interested in critically appraising and engaging with the work of Nitzan and Bichler, as well as researchers who use a power theory of value in their own work. Contributions should be no longer than 8,000 words, including notes and references. Papers should be original (i.e. not published elsewhere), unless the author has explicit permission from the copyright holder to republish the piece in this volume. Contributions will be evaluated on their merit, as well as on how well they fit within the larger project. Deadline for Submissions: June 1, 2011 Submissions are to be sent to: tdimuzio@hotmail.com
Open Access
Call for Papers for a Special Issue of RECASP: “Broadening the Vista”
(2016) Muzio, Tim Di
Submissions deadline: December 31st, 2016 Submission guidelines: http://www.recasp.com/contact Contact: Tim Di Muzio, University of Wollongong, Australia (tdimuzio@uow.edu.au)
Open Access
Call for papers on the subject of "Capital as Power"
(2013) Nitzan, Jonathan; Bichler, Shimshon; Muzio, Tim Di
A call for papers for the "Capital as Power" section of the Eighth Rethinking Marxism Conference, UMASS Amherst, September 19-22, 2013. Internal deadline for abstract submission: May 15, 2013
Open Access
Capital as Power: Essay Prize
(2014) Muzio, Tim Di
The Review of Capital as Power (RECASP) announces an annual essay prize of $1,000 for the best paper on the subject of capital as power. Submitted articles should not have been published in a refereed journal or book before. The particular topic is open. The paper can be theoretical, historical or empirical, and it may support or critique the capital as power framework. Winning essays will be published (with revisions, if necessary) in the Review of Capital as Power. Deadline: December 31 of the competition year
Open Access
Capitalismo de deuda. Una lectura crítica de la crisis mundial del endeudamiento
(2020) Muzio, Tim Di; Robbins, Richard H.
‘Capitalismo de deuda’ es un esfuerzo por descifrar cómo la tecnología de la deuda se ha convertido en uno de los mayores obstáculos para las aspiraciones democráticas y racionales de la sociedad moderna. Richard Robbins y Tim Di Muzio muestran que la deuda, entendida como una tecnología de poder, es un engranaje insertado en el corazón del capitalismo. En la deuda se anudan un mecanismo que transfiere riqueza desde los asalariados hacia los capitalistas, un instrumento de control político sobre las poblaciones de todo el mundo y un algoritmo que presiona a las economías a producir y consumir por encima de los límites físicos de la naturaleza. La deuda está en el origen del Estado moderno y en las innovaciones más recientes de los mercados financieros. Está implicada en las formas más descarnadas de violencia y control social y en las técnicas más refinadas de especulación financiera. Opera en las grandes transferencias de riqueza (como en los rescates bancarios) y en las transacciones ordinarias del día a día (pues bajo el vigente sistema monetario, el dinero es creado como deuda). La deuda es ubicua: es impagable y es uno de los motores del capitalismo contemporáneo. ¿Queda algo por hacer ante una tecnología social tan extendida y enraizada? ¿Es imaginable que al poder de la deuda pueda oponerse una lucha política fundada en el poder de los deudores? ‘Capitalismo de deuda’ es una excelente herramienta para adentrarse en la tarea de dar una respuesta a estas interrogantes.
Open Access
Carbon Capitalism. Energy, Social Reproduction and World Order
(2015) Muzio, Tim Di
Modern civilization and the social reproduction of capitalism are bound inextricably with fossil fuel consumption. But as carbon energy resources become scarcer, what implications will this have for energy-intensive modes of life? Can renewable energy sustain high levels of accumulation? Or will we witness the end of existing capitalist economies? This book provides an innovative and timely study that mobilizes a new theory of capitalism to explain the rise and fall of petro-market civilization. Di Muzio investigates how theorists of political economy have largely taken energy for granted and illuminates how the exploitation of fossil fuels increased the universalization and magnitude of capital accumulation. He then examines the likelihood of renewable resources providing a feasible alternative and asks whether they can beat peak oil prices to sustain food production, health care, science and democracy. Using the capital as power framework, this book considers the unevenly experienced consequences of monetizing fossil fuels for people and the planet.
Open Access
Debt as Power
(2015) Muzio, Tim Di; Robbins, Richard H.
FROM THE EDITOR’S INTRODUCTION: In Debt as Power, Di Muzio and Robbins present a historical account of the modern origins of capitalist debt by looking at how commercial money is produced as debt in the late seventeenth and early eighteenth centuries. They expertly demonstrate their key contention -- that debt is a technology of power -- and identify the ways in which the control, production, and distribution of money, as interest-bearing debt, are used to discipline populations. Their sharp analysis brings together histories of the development of the Bank of England and the establishment of permanent national debt with the intensification and expansion of debt, as a “technology of power”, under colonialism in a global context. The latter part of the book addresses the consequences of modern regimes of debt and puts forward proposals of what needs to be done, politically, to reverse the problems generated by debt-based economies. The final chapter presents a convincing case for the 99% to use the power of debt to challenge present inequalities and outlines a platform for action suggesting possible alternatives.
Open Access
Energy, Capital as Power and World Order
(2016) Muzio, Tim Di
Until late, the subject of energy and its importance for capitalism and the constitution and reconstitution of world order has been sorely overlooked in the international political economy (IPE) literature. Indeed, only two of the major textbooks in IPE have chapters on energy. This is also true of the literature known as classical political economy. With few exceptions, the main questions that animated the classics such as the origins of the wealth of nations and the distribution of wealth are somehow disconnected from the production and consumption of energy. Marginal exceptions granted, there is little acknowledgement that the last three centuries of uneven and combined “progress” and “development” have anything to do with the exploitation of coal, oil and natural gas. However, if recent scholarship is any indication, this appears to be changing both within IPE and within other academic fields such as geography, sociology and environmental studies. In this emergent literature, we can find an argument that energy should not be treated as auxiliary to our analysis of the global political economy but essential to understanding and interpreting its emergence, transformations and future trajectories. Since fossil fuels make up an overwhelming share of global energy production and consumption I will mainly concentrate of non-renewable fossil fuels and aim to provide a critical political economy approach to energy, capitalism and world order by using the capital as power perspective. This is certainly not the only approach that we could take, but it is the one I find most revealing and convincing. To make this argument, I have divided the article in the following way. First, I concisely survey why energy is important for our theorizations of the global political economy as well as for understanding the practices of everyday life. With this background information in place, I briefly review how mainstream and critical accounts have approached the question of energy and the global political economy and demonstrate how the capital as power approach is distinctive for its focus on capitalization and social reproduction. In the second section, I will consider the power of the oil and gas firms in shaping and reshaping social reproduction and how there are strong indicators to suggest that renewable forms of energy cannot presently -- and likely never will -- replace fossil fuels and perpetuate energy intensive modes of living centuries into the future. Moreover, because of the entrenched power of oil and gas firms and their connection with affluent social reproduction, transitioning to less carbon intensive modes of social reproduction are being stalled. I conclude the article by discussing the relationship between energy, violence and world order.
Open Access
GameStop Capitalism. Wall Street vs. The Reddit Rally (Part I)
(2021) Muzio, Tim Di
Reflections on leveraging finance against finance.
Open Access
Six Integrated Panels on "Capital as Power": Timetable and Program
(2013) Nitzan, Jonathan; Bichler, Shimshon; Muzio, Tim Di
Timetable and abstracts of an integrated panel series on the subject of "Capital as Power", to be held at the Rethinking Marxism Conference, University of Massachusetts, Amherst, September 19-22. The series comprises 10 presentations and a roundtable, grouped into six panels.
Open Access
The 'Art' of Colonisation: Capitalising Sovereign Power and the Ongoing Nature of Primitive Accumulation
(2007) Muzio, Tim Di
FROM THE ARTICLE: . . . what many critics of the war on terror or US imperialism have so far failed to appreciate is how this project would be impossible without the capitalisation of the state. In this article, I therefore want to suggest that Marx’s re-theorisation of the concept of primitive accumulation, combined with a non-Marxist theorisation of state power offered by Jonathan Nitzan and Shimshon Bichler, can help us account for the intimate connection between ongoing primitive accumulation and the capitalisation of the US government. . . . I try to show that we can accept their novel theory of capital as a capitalised and commodified form of power, but argue that the concept of primitive accumulation still has considerable analytical value for theorising the extension and depth of capitalist social property relations within and across political jurisdictions.
Open Access
The 1% and the Rest of Us -- An Interview with Tim Di Muzio
(2015) Muzio, Tim Di; Mills, Tom
Tim DiMuzio is a lecturer in International Relations and Public Policy at the University of Wollongong in Australia. His book, 'The 1% and the Rest of Us: A Political Economy of Dominant Ownership', examines the insular lives of the global super rich, the socio-economic system they head, and their restless drive to dominate society and nature. NLP's Tom Mills spoke to him about the book, its approach to political economy and the consequences for left political strategy.
Open Access
The 1% and the Rest of Us. A Political Economy of Dominant Ownership
(2015) Muzio, Tim Di
While the Occupy movement faces many strategic and organizational challenges, one of its major accomplishments has been to draw global attention to the massive disparity of income, wealth and privilege held by 1% of the population in nations across the world. In The 1% and the Rest of Us, Tim Di Muzio explores what it means to be part of a socio-economic order presided over by the super-rich and their political servants. Incorporating provocative and original arguments about philanthropy, social wealth and the political role of the super-rich, Di Muzio reveals how the 1% are creating a world unto themselves in which the accumulation of ever more money is really a symbolic drive to control society and the natural environment.
Open Access
The 1%, Exploitation and Wealth: Tim Di Muzio interviews Shimshon Bichler and Jonathan Nitzan
(2012) Bichler, Shimshon; Nitzan, Jonathan; Muzio, Tim Di
Rethinking resistance, power and production.
Open Access
The 1%, Exploitation and Wealth: Tim Di Muzio interviews Shimshon Bichler and Jonathan Nitzan (Reprint)
(2012) Bichler, Shimshon; Nitzan, Jonathan; Muzio, Tim Di
Rethinking resistance, power and production.
Open Access
The Capitalist Mode of Power: Critical Engagements with the Power Theory of Value
(2013) Muzio, Tim Di
This edited volume offers the first critical engagement with one of the most provocative and controversial theories in political economy: the thesis that capital can be theorized as power and that capital is finance and only finance. The book also includes a detailed introduction to this novel thesis first put forward by Nitzan and Bichler in their Capital as Power. Although endorsing the capital as power argument to varying extents, contributors to this volume agree that a new understanding of capital that radically departs from Marxist and Neoclassical theories cannot be ignored. Offering the first application and appraisal of Nitzan and Bichler’s theory, chapters examine the thesis in the context of energy and global capitalization, US Investment Banks, trade and investment agreements between Canada, the US and Mexico, and multinational corporations in Apartheid South Africa. Balancing theory, methodology and empirical analysis throughout, this book is accessible to new readers, whilst contextualising and advancing the original theoretical debate.
Open Access
The Coming Revolution in Political Economy: Money Creation, Mankiw and Misguided Macroeconomics
(2017) Muzio, Tim Di; Noble, Leoni
The aim of this article is to challenge one of the principal received truths in the field of Economics: the way that new money is created. We also aim to go further and argue that a proper understanding of how new money is created has such devastating consequences that it heralds no less than a coming revolution in how we understand political economy and future possibilities. Our main argument is that the received truth of the fractional reserve theory or 'money multiplier' model taught in most economics textbooks cannot explain the expansion of the money supply by logic, simple math and by basic bank accounting practices. To demonstrate our argument we rely on Mankiw’s 'Macroeconomics' and his chapter explaining to students how new money is created. We use Professor Mankiw’s textbook because of its widespread use as an introductory text to macroeconomics. Our second argument is that the vast majority of new money is actually created by banks when they make loans. The article concludes with a discussion of some of the major consequences of allowing private social forces to issue new money as debt.