Jonathan Levy - Does Capital Flow?

During the 1980s, across social scientific disciplines the metaphor of “flow” to characterize capital became newly prominent. In an age of globalization, capital no longer “formed” or “accumulated,” as it did typically in postwar economic discourse. Instead, capital flowed. Tracing the flow concept in economics back to the stock/flow distinction first articulated by Irving Fisher, in this excursion into capital theory I pose the question: Does capital really flow? The answer, I argue, is no.




This seminar took place on Wednesday 12 May 2021 at 12:00 EDT / 17:00 BST / 18:00 CEST