Activity

The reorientation of corporate governance towards maximizing shareholder value – namely, the demand from ‘above’ to extract a rate of return on net capital far beyond the prevailing norms of Fordist capitalism

A false antinomy (between ‘calculation’ and ‘affects’) par excellence

[...] to use a ballistic metaphor, one needs a launcher to ‘launch’ a business. One needs an initial amount (of energy/start-up capital) in order to be propelled past the critical threshold – the capitalist equivalent of escape velocity. From this follows a fundamental inequality with respect to th…

crucially ex ante, in the form of the monetary advance (‘at the start’), namely, as a stock of money-capital, and not as an ex post remuneration for labour-power

[...] If we understand by ‘finance’ the full set of mechanisms that allow agents to (temporarily) spend more than they earn, it is the ability to access money in the non-wage form of finance that identifies the potential capitalist. The fundamental difference is that money as wages is accessed in t…