Abstract:Nitzan and Bichler's Capital as Power suggests that conventional theories of capitalism, Marxist and liberal alike, are unable to answer the question: what is capital? They argue that the basic units of Marxist economics, abstract labour and value, are unobservable and immeasurable, and hence 'non-existent' and 'fictitious'. Against Marxists, they argue that capital is not an 'economic' entity, but a symbolic quantification of power.This review contends that what Nitzan and Bichler present as a critique of Mar… Show more
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