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Nitzan and Bichler title their recent book Capital as Power  A study of Order and Creorder. One of their major themes is the inability of Marxist and Neo-Classical Economics to account for capital formation. Part of their foundation is Mumford's analysis of the social machine created in the first hydraulic civilizations, which had means of accounting but not money. The power of the rulers was the power to organize and direct labor and resources to their ends. That is the origin of capital and it is political in nature.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Jul 18th, 2010 at 01:58:48 AM EST
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