This essay argues that Knafo and Teschke fundamentally misread Brenner’s original contribution to the transition debate. They equate his rejection of trans-historical or trans-modal laws of motion with the notion that social-property relations do not have strong rules of reproduction that structure the actions of agents and give rise to ‘developmental patterns’ specific to each form of social labour. Knafo and Teschke’s critique of Brenner’s analysis of capitalist expansion and crisis is also theoretically and empirically questionable.

One of the leading explanations for Canadian banking stability through the global financial crisis of 2007–08 is the Concentration-Stability Hypothesis (CSH), according to which the oligopoly of Canadian finance stabilised the credit system by cushioning it with above-average profits. These provided a buffer against fragility and incentives against excessive risk-taking. In this article, I critically examine CSH and show that classical Marxian analysis more effectively illuminates Canadian banking stability. I demonstrate that robust corporate profitability and capital accumulation before the crisis (...) strengthened the balance sheets of the banks and supported them through those turbulent years. Thus, financial stability is linked explicitly to broader economic stability, and the latter is linked to the profitability of business enterprise. (shrink)

Aneivas and Nişancıoğlu’s provocative book,How the West Came to Rule, attempts to provide an alternative account of the origins of capitalism to both ‘Political Marxism’ and ‘World-Systems Theory’. By making uneven and combined development a universal dynamic of human history and by utilising a flawed concept of ‘Eurocentrism’, however, they introduce a high degree of causal pluralism into their analysis. Despite important insights into the specific dynamics of different pre-capitalist forms of social labour, their account of the origins of capitalism (...) inHow the West Came to Rulesuffers from causal indeterminacy and historical inaccuracies. (shrink)

The introduction of the concept of capital inCapital– with the words ‘we find’ – has provoked a great deal of discussion about the precise relation between the categories of simple circulation and the concept of capital. In this article, I argue that Marx derives the concept of capital by way of an analysis of the immanent contradictions of money, and that this dialectical derivation can be understood as a conceptual movement in which the concepts of money and capital progressively change (...) their modal status. Furthermore, I examine the development of this transition to capital throughout Marx’s writings from the period 1857 to 1872, arguing that the same arguments can be found in all the relevant writings. Finally, the article provides a critical review of the literature on the transition to capital. (shrink)

Clearing philosophical ground for diagnoses of the contemporary ‘post-truth’-problematic, this article discusses the systematic and ineliminable ambivalence of claims to truth in public discourse and collective life generally, where truth cannot ultimately be disentangled from untruth. Truth becomes a problem in the relevant sense only where matters are morally-existentially charged, so that acknowledging truth threatens, e.g., loss of self-respect, and self-deception becomes tempting, individually and collectively. To the extent that our life is marked by injustice and destructiveness, it is necessarily (...) also marked by systematic falsification, a conspiracy to deny the truth about it, about us. Collective life exhibits pervasive hostility to interpersonal (moral) understanding, which is repressed through collectively established fake ‘understandings’ and regimes of respectability. The fact/opinion and fact/value distinctions function as defences against understanding, while meaning and truth are seen as things to be determined rather than understood, and the concept of representatability, how things can be made to appear, becomes central. However, standard philosophical views on truth, meaning and morality render the problematic sketched here invisible, because they effectively move – as Wittgenstein arguably realised – wholly within the collective perspective that needs to be problematised. Keywords: moral understanding, self-deception, collective life, representation, conspiracy theories, political corrrectness. (shrink)

Canadian capitalism has entered a period of intensified volatility. Rooted in persistent profitability problems, it is facing several challenges, including economic stagnation, a household-debt driven real-estate and construction boom, and an increasingly fragile financial system. Drawing on a classical Marxist framework of capitalist crisis, this article explores the dynamics of instability in Canada and the response of the capitalist state, which centres on increased efforts to export oil and gas to China, thereby deepening conflict with Indigenous land defenders, and a (...) redoubling of the assault on workers to increase the rate of exploitation. (shrink)