Yves here. This post on largely-hidden hidden power assumptions might seem wide of the mark, but it’s well night impossible to effect change without recognizing power dynamics and leverage points. One of our occasional themes at Naked Capitalism is the degree to which the coercive elements of capitalism aren’t acknowledged; they are so deeply internalized by most people as “that’s how things work” as to not be amenable to scrutiny.Naked Capitalism
Philip Pilkington: Cody Wilson and the Language of Power
Yves Smith
Modern capitalism is dominated asymmetical (imperfect) markets in which power relationships enable the extraction of economic rents. This should be the principal focus of economic critique. Neoliberalism and the neoclassical economics on which it rests denies asymmetry, power, and economic rent as forces that shape economics rather than law of nature operating through individual actors as rational free agents.
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