A Critique of Neoliberal Economics – Part I

Quantitative Analysis & Assumptions

Capital as Power Position in Ergodic Economic Modeling

Written in response to an invitation for papers under the Capital as Power Essay Competition posted by Blair Fix, for which I am quoting his response of the review board from April 2, 2021.

Hi Mart,
Thanks for submitting a paper to this year’s Capital as Power Essay Competition. The reviewers thought your paper was interesting, but were unsure exactly how it relates to capital as power (as they understand it). In particular, the reviewers thought the relation between capital as power and ergodicity economics needed to be clarified and explained further. For that reason, they decided the paper did not warrant a prize. 

You are welcome to revise the paper and resubmit it to RECASP if you wish.
Thanks again for the submission.



Rather than revise that submission, I thought perhaps it more appropriate to revise the title to Capital as Position in Ergodic Economic Modeling which is closer to the truth, in my opinion, of what economic power really is—the vital position of an economic producing-distributing-consuming entity in the production-distribution-consumption decision making process. That position, located ergodically by a mix of de jure and de facto determinants within an environment of productive resource, weighted by the vitality of the decision-maker, is what is recognized as the power of capital.

Any further attempt to clarify and explain this quantitative analysis can be found in the qualitative analysis of the second essay, as A Critique of Neoliberal Economics – Part II, Capital as Money, Focused Rationality, & Hierarchical Position.