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Hype: The Capitalist Degree of Induced Participation

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  • Di Liberto, Yuri

Abstract

* Winner of the 2022 RECASP Second Essay Prize * Power is usually considered as either a ‘positive’ or ‘negative’ construct, as in the power to force action versus the power to forbid it. This paper explores a hybridized approach to power based on the idea of ‘induced participation’. Building on Bichler and Nitzan’s theory of ‘capital as power’, I argue that capitalism reinforces its hold on society through the strategic use of ‘hype’. The idea is that capitalists counteract resistance by boosting confidence in the promise of reward, a process that can be better understood using the concept of hype.

Suggested Citation

  • Di Liberto, Yuri, 2022. "Hype: The Capitalist Degree of Induced Participation," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 2(2), pages 1-16.
    • Handle: RePEc:zbw:caprev:253264
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    References listed on IDEAS

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    1. Mitchell, B. R., 1964. "The Coming of the Railway and United Kingdom Economic Growth," The Journal of Economic History, Cambridge University Press, vol. 24(3), pages 315-336, September.
    2. Harcourt, Bernard E., 2011. "The Illusion of Free Markets: Punishment and the Myth of Natural Order," Economics Books, Harvard University Press, number 9780674066168, Spring.
    3. Carlota Perez, 2009. "The double bubble at the turn of the century: technological roots and structural implications," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(4), pages 779-805, July.
    4. Nitzan, Jonathan, 1998. "Differential Accumulation: Toward a New Political Economy of Capital," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 5(2), pages 169-217.
    5. Cédric Durand, 2014. "Le capital fictif," Post-Print hal-01332913, HAL.
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    Cited by:

    1. Julien Vastenaekels, 2024. "Degrowth and capitalist power: A step towards a theory of change," Post-Print hal-04584989, HAL.

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    More about this item

    Keywords

    capital as power; chreods; epochal changes; finance; hype; reward; social paradigm;
    All these keywords.

    JEL classification:

    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • G - Financial Economics
    • Z1 - Other Special Topics - - Cultural Economics

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