The Ritual of Capitalization
| dc.contributor.author | Fix, Blair | |
| dc.date.accessioned | 2022-10-28T15:48:19Z | |
| dc.date.available | 2022-10-28T15:48:19Z | |
| dc.date.issued | 2021 | |
| dc.description | capitalization discounting power stock market | |
| dc.description.abstract | For more than a century, political economists have sought to understand the nature of capital. The prevailing wisdom is that there must be something ‘real’ – some productive capacity – that underpins capitalized values. This thinking, I argue, is a mistake. Building on Jonathan Nitzan and Shimshon Bichler’s theory of capital as power, I argue that capitalization is an ideology. It is a quantitative ritual for converting earnings into present value. Although the ritual is arbitrary, it gives rise to astonishing empirical regularities, reviewed here. | |
| dc.identifier.citation | The Ritual of Capitalization. Fix, Blair. (2021). Real-World Economics Review. No. 97. September. pp. 78-95. (Article - Journal; English). | |
| dc.identifier.uri | http://hdl.handle.net/10315/39804 | |
| dc.title | The Ritual of Capitalization | |
| dc.type | Article |
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