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Systemic Crisis, Systemic Fear: An Exchange

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  • Kliman, Andrew
  • Bichler, Shimshon
  • Nitzan, Jonathan

Abstract

An exchange between Andrew Kliman and Shimshon Bichler and Jonathan Nitzan. 1. Andrew Kliman: 'Value and Crisis: Bichler and Nitzan versus Marx' EDITORS' NOTE: In the first article, Andrew Kliman responds to Bichler and Nitzan's recent paper on 'Systemic Fear, Modern Finance and the Future of Capitalism' (2010). He then goes on to raise a series of issues concerning the critique of Marxian value theory which these authors put forward in their book Capital as Power (Nitzan and Bichler, 2009). It is followed by a rejoinder from Bichler and Nitzan. 2. Shimshon Bichler and Jonathan Nitzan: 'Kliman on Systemic Fear: A Rejoinder' EDITORS' NOTE: Andrew Kliman's paper in this issue, 'Value and Crisis: Bichler and Nitzan versus Marx', consists of two sections. The first section deals with Bichler and Nitzan's recent paper on 'Systemic Fear, Modern Finance and the Future of Capitalism' (2010). The second section takes issue with their earlier critique of Marx’s labour theory of value (Nitzan and Bichler, 2009), and offers an explanation of the global economic crisis. In the following rejoinder, Bichler and Nitzan address the points raised in the first of these sections.

Suggested Citation

  • Kliman, Andrew & Bichler, Shimshon & Nitzan, Jonathan, 2011. "Systemic Crisis, Systemic Fear: An Exchange," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 4, pages 61-118.
    • Handle: RePEc:zbw:espost:157781
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    References listed on IDEAS

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    1. Nitzan, Jonathan & Bichler, Shimshon, 2009. "Capital as Power. A Study of Order and Creorder," EconStor Books, ZBW - Leibniz Information Centre for Economics, number 157973, May.
    2. Nitzan, Jonathan, 1989. "Price and Quantity Measurements: Theoretical Biases in Empirical Procedures," EconStor Preprints 157849, ZBW - Leibniz Information Centre for Economics.
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    1. Bichler, Shimshon & Nitzan, Jonathan, 2014. "No Way Out: Crime, Punishment and the Capitalization of Power," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 61(3), pages 251-271.
    2. Bichler, Shimshon & Nitzan, Jonathan, 2018. "With their Back to the Future: Will Past Earnings Trigger the Next Crisis," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 18, pages 41-56.
    3. Bichler, Shimshon & Nitzan, Jonathan, 2013. "Can Capitalists Afford Recovery? Economic Policy When Capital is Power," Working Papers on Capital as Power 2013/01, Capital As Power - Toward a New Cosmology of Capitalism.
    4. Bichler, Shimshon & Nitzan, Jonathan, 2012. "The Asymptotes of Power," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 60, pages 18-53.
    5. Bichler, Shimshon & Nitzan, Jonathan, 2016. "A CasP Model of the Stock Market," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 77, pages 119-154.
    6. Bichler, Shimshon & Nitzan, Jonathan, 2014. "How Capitalists Learned to Stop Worrying and Love the Crisis," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 66, pages 65-73.
    7. Bichler, Shimshon & Nitzan, Jonathan, 2015. "Still About Oil?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 70, pages 49-79.
    8. Nitzan, Jonathan & Bichler, Shimshon, 2014. "Can Capitalists Afford Recovery? Three Views on Economic Policy in Times of Crisis," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(1), pages 110-155.
    9. Nitzan, Jonathan & Bichler, Shimshon, 2019. "The Harder They Fall," EconStor Preprints 191311, ZBW - Leibniz Information Centre for Economics.
    10. Nitzan, Jonathan & Bichler, Shimshon, 2018. "The CasP Project: Past, Present, Future," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(3), pages 1-39.
    11. Bichler, Shimshon & Nitzan, Jonathan, 2014. "The Enlightened Capitalist," EconStor Preprints 157839, ZBW - Leibniz Information Centre for Economics.

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