Activity

In Donald MacKenzie's study on the financial turn of economics, he highlights
the role of the self-fulfilling prophecy (positive feedback) of mathematical models
upon reality, through the example of the Black-Scholes-Merton model. At first
the correspondence between the model and actual prices w…

[...] But this is already to presuppose that there is a natural, which is to say, transcendently ordained, equilibrium. Yet we are never told precisely what the equilibrium is supposed to be. What I want to suggest is that it is precisely this assumption of equilibrium that is theological: it is th…

[...] what characterizes a capitalist economy is that this surplus of time and energy is not simply released, but must be constantly reabsorbed in the cycle of production of exchange value leading to increasing accumulation of wealth by the few (the collective capitalist) at the expense of the many…