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24070
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Economies have material, economic and capitalist layers [Davies,W]
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Full Idea:
Braudel's economic history has three layers. At the bottom is material life of consumption, production, reproduction. Next is economic life of markets, of equals in exchange and competition. Top is capitalism, of opacity, monopoly, power, high profits.
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From:
William Davies (Review of 'The Price is Wrong' by B.Christophers [2024], 24-04-04)
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A reaction:
The point Davies emphasises here is the sharp distinction between the market economy and capitalism.
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24073
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Capitalists use their exceptional power to impose their own rules, and make the state their ally [Davies,W]
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Full Idea:
Capitalists exploit their unrivalled control over time and space in order to impose their rules on everyone else. …It triumphed late, only becoming dominant in the 19th century, when it had conscripted the state as its ally.
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From:
William Davies (Review of 'The Price is Wrong' by B.Christophers [2024], 24-04-04)
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A reaction:
This so very much makes sense of the modern world. Nowadays capitalists are so wealthy that the state has largely become their pawn, rather than their ally. Populist leaders are their puppets (and are well rewarded).
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24074
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Capitalism must mainly rely either on the labour market, or on the financial markets [Davies,W]
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Full Idea:
According to Marxists, the one market capitalism cannot do without is the labour market, which creates saleable things. Others, influenced by Keynes, emphasise financial markets, where pieces of paper change hands on expectation of their value.
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From:
William Davies (Review of 'The Price is Wrong' by B.Christophers [2024], 24-04-04)
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A reaction:
Modern Britain fits the Keynesian account much better, given its low production, and very active (until recently) London financial market.
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24071
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Markets are transparent, with known prices and activity, and minimal profits [Davies,W]
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Full Idea:
Markets are characterised by transparency. Prices are public, and all relevant activity is visible to everyone. And because of competition, profits are minimal, little more than a 'wage' for the seller.
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From:
William Davies (Review of 'The Price is Wrong' by B.Christophers [2024], 24-04-04)
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A reaction:
This account, from Braudel, is to distinguish markets from capitalism.
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24072
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Capitalism is the anti-market, with opacity, monopolies, powers, exceptional profits and wealth [Davies,W]
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Full Idea:
Braudel sees capitalism as the 'anti-market': a world of opacity, monopoly, concentration of power and wealth, and the exceptional profits that can be achieved only by escaping the norms of 'economic life'.
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From:
William Davies (Review of 'The Price is Wrong' by B.Christophers [2024], 24-04-04)
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A reaction:
Given all the talk about the wonders of the 'free market' from right-wingers, this passage came as a revelation to me. Capitalists all dream of a monopoly, which is precisely the destruction of a market.
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17371
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Some kinds are very explanatory, but others less so, and some not at all [Devitt]
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Full Idea:
Explanatory significance, hence naturalness, comes in degrees: positing some kinds may be very explanatory, positing others, only a little bit explanatory, positing others still, not explanatory at all.
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From:
Michael Devitt (Natural Kinds and Biological Realism [2009], 4)
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A reaction:
He mentions 'cousin' as a natural kind that is not very explanatory of anything. It interests us as humans, but not at all in other animals, it seems. ...Nice thought, though, that two squirrels might be cousins...
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4787
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Causation interaction is an exchange of conserved quantities, such as mass, energy or charge [Dowe, by Psillos]
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Full Idea:
Dowe argues that a 'causal process' is a world line of an object with a conserved quantity (such as mass, energy, momentum, charge), and a 'causal interaction' is an exchange between two such objects.
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From:
report of Phil Dowe (Physical Causation [2000]) by Stathis Psillos - Causation and Explanation §4.4
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A reaction:
This looks very promising. Nice distinction between causal process and causal interaction. 'Conserved quantities' is better physics than just 'energy'. We can hand causation over to the scientist?
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