Of power, and every mode of power evolves together with its dominant theories, dogmas and Capitalism, we argue, is not a mode of production but a mode They cannot explain the process that matters most – the accumulation of And since liberalism and Marxism depend on these non-existing units, their theories Units are totally fictitious: they can be neither observed nor measured. Liberals and Marxists think of capital as an economicĮntity that they count in universal units of utils and abstract labour, respectively. Shimshon Bichler and Jonathan Nitzan 1 Ĭopyright: Shimshon Bichler and Jonathan Nitzan, 2012 You may post comments on this paper at Ĭonventional theories of capitalism are mired in a deep crisis: after centuries of debate, theyĪre still unable to tell us what capital is.