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Book Review: Capital as Power: A Study in Order and Creorder

Book Review: Capital as Power: A Study in Order and Creorder

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The authors of Capital As Power wish, as they said in their own words at a recent Rethinking Marxism conference, to perform a ‘ctrl-alt-del’ on current political economy. The basis for this extreme assertion is the sorry state of value theory and the concepts that depend upon that theory, including capital. In place of the two standard theories of value (the neoclassical ‘utility theory of value’ and the Marxist ‘labor theory of value’), both of which have serious analytical and ontological problems, Nitzan and Bichler offer a theory that capital is nothing but quantified power.
The authors of Capital As Power wish, as they said in their own words at a recent Rethinking Marxism conference, to perform a ‘ctrl-alt-del’ on current political economy. The basis for this extreme assertion is the sorry state of value theory and the concepts that depend upon that theory, including capital. In place of the two standard theories of value (the neoclassical ‘utility theory of value’ and the Marxist ‘labor theory of value’), both of which have serious analytical and ontological problems, Nitzan and Bichler offer a theory that capital is nothing but quantified power.

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Categories:Types, Reviews, Book
Published by: Transformative Studies Institute on Apr 20, 2010
Copyright:Traditional Copyright: All rights reserved
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03/01/2013

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