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Hype: The Capitalist Degree of Induced Participation

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  • Di Liberto, Yuri

Abstract

* Winner of the 2022 RECASP Second Essay Prize * Power is usually considered as either a ‘positive’ or ‘negative’ construct, as in the power to force action versus the power to forbid it. This paper explores a hybridized approach to power based on the idea of ‘induced participation’. Building on Bichler and Nitzan’s theory of ‘capital as power’, I argue that capitalism reinforces its hold on society through the strategic use of ‘hype’. The idea is that capitalists counteract resistance by boosting confidence in the promise of reward, a process that can be better understood using the concept of hype.

Suggested Citation

  • Di Liberto, Yuri, 2022. "Hype: The Capitalist Degree of Induced Participation," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 2(2), pages 1-16.
    • Handle: RePEc:zbw:caprev:253264
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    References listed on IDEAS

    as
    1. Mitchell, B. R., 1964. "The Coming of the Railway and United Kingdom Economic Growth," The Journal of Economic History, Cambridge University Press, vol. 24(3), pages 315-336, September.
    2. Harcourt, Bernard E., 2011. "The Illusion of Free Markets: Punishment and the Myth of Natural Order," Economics Books, Harvard University Press, number 9780674066168, Spring.
    3. Carlota Perez, 2009. "The double bubble at the turn of the century: technological roots and structural implications," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(4), pages 779-805, July.
    4. Nitzan, Jonathan, 1998. "Differential Accumulation: Toward a New Political Economy of Capital," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 5(2), pages 169-217.
    5. Cédric Durand, 2014. "Le capital fictif," Post-Print hal-01332913, HAL.
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    More about this item

    Keywords

    capital as power; chreods; epochal changes; finance; hype; reward; social paradigm;
    All these keywords.

    JEL classification:

    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • G - Financial Economics
    • Z1 - Other Special Topics - - Cultural Economics

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