Guest speaker Nikolaos Chatzarakis, Professor of Economics at the New School for Social Research, joins the Oxford Communist Correspondence Society to explore the structural evolution of capitalism. Nikos examines the dynamic relationship between the "Law of Accumulation" and the "Falling Rate of Profit," arguing that these economic forces are the primary engines behind the major shifts in global history.

Key topics discussed:

- The Mechanics of Profit: How the rising "organic composition of capital" creates an inherent downward pressure on profitability.

- Long Cycles of Development: From the age of steam and railways to the emergence of digital networks and Artificial Intelligence.- Formal vs. Real Subsumption: How capital takes control of the labor process to squeeze out higher levels of productivity.

- Modern Crises: A look at how current trends - including the gig economy, "techno-feudalism," and the 2008 financial crisis - fit into Marx’s long-term predictions.

40 mins talk followed by ~1 hour of discussion.

We dive into the centuries-old controversy of economic value: is it determined by the objective difficulty of bringing goods to market or by the subjective preferences of consumers? The discussion frames this conflict using Adam Smith’s famous water-diamond paradox. We explore the 1870s marginal revolution, where economists like Menger, Jevons, and Walras developed subjective theories based on the principle of diminishing marginal utility. This analytical method also served an ideological purpose, directly undermining socialist critiques by denying any objective anchor for value. The talk explains how modern neoclassicism attempts to reconcile objective and subjective factors, but due to its obsession with equilibrium, exhibits value nihilism - the assertion that economic value does not really exist. Economics remains "half a science" due to its inability to analyze dynamics and movement over time.

A wide-ranging conversation among participants in the econophysics Discord server, featuring Ian Wright, Alex Creiner and Leone. The discussion primarily centers on Wright's provocative idea of "capital as a real god," a concept suggesting that capital functions as an emergent control system with its own primitive intentionality, goals, and representations, quasi-independent of human will. The participants also explore the concept of "occult magic" in politics and economics, likening it to a reality-driven fantasy where narratives obscure underlying mechanisms, and real possibilities for change. Further topics include the role of dialectical thinking in science, the challenges of socialist planning, and modernization of Marxist value theory.The conversation is animated by the desire to understand and transform social structures through both scientific rigor and conscious collective action.

Econophysics Discord server: https://discord.gg/9jZYkRYYWAIan Wright: https://ianwrightsite.wordpress.com/Leone: https://www.indep.network/Alex Creiner: https://www.youtube.com/@TexTalksSometimes https://alexcreiner.com/docs/about/

“A god abides with us still. And if we wish to see its face we need merely reach into our own pockets.”

Sequel to “Marx on Capital as a Real God” that expands on Marx’s comparison of money with Christ. I discuss Christ’s real presence, demon summoning, our collective dark enchantment, and how capitalism reproduces a great sacrificial exchange between a people and its god.

“The essence of money is … the mediating activity or movement, the human, social act by which man’s products mutually complement one another, is estranged from man and becomes the attribute of money, a material thing outside man. Since man alienates this mediating activity itself, he is active here only as a man who has lost himself and is dehumanized; the relation itself between things, man’s operation with them, becomes the operation of an entity outside man and above man. Owing to this alien mediator – instead of man himself being the mediator for man – man regards his will, his activity and his relation to other men as a power independent of him and them. His slavery, therefore, reaches its peak. It is clear that this mediator now becomes a real God, for the mediator is the real power over what it mediates to me. Its cult becomes an end in itself.”

K. Marx, Comments on James Mill, 1844.

The question I address is whether Marx’s “real God” is metaphor or science.

Talk presented at the Communist University 2020, organised by the CPGB (UK).

This talk examines the significance of the theory of computation for the perennial philosophical problem of the identity of thought and being. I give an accessible overview of the history and main results of computability theory, and then discuss the Church-Turing thesis and its generalizations. I then consider our epistemic states in possible worlds where we are, or are not, computationally equivalent to nature, and therefore under what circumstances we might break through the Turing barrier. The main argument is that deciding our computational equivalence to nature is transcendentally undecidable, and therefore will we never halt on this decision problem. In consequence, the identity of thought and being is a purely “scholastic matter” (Marx’s 2nd thesis on Feuerbach) and we have no rational reason to suppose that any persistent unintelligibility in nature cannot, one day, yield its secrets.

We cannot know we know; and we cannot know we cannot know.

First 43 mins: main talk. 43 mins to 1 hour 17 mins: discussion by participants. Last 16 mins: my response.

Can materialism explain human consciousness? Not according to an influential argument in the philosophy of mind (the “hard problem of consciousness”). In this talk, I (i) sketch a materialist theory of consciousness, (ii) explain an idealist rejection of the possibility of any such theory, (iii) discuss the philosophical flaws of this rejection, and (iv) explain, in materialist terms, why idealism is nonetheless attractive to many people. I close by pointing out that the “hard problem of consciousness” unconsciously frames subjectivity in terms of a bourgeois owner of private property, and therefore is the hard problem of justifying social inequality in disguise.

35 minutes talk, 40 mins discussion, 10 minutes response.

Joshua Dávila’s 2023 book, “Blockchain Radicals: how capitalism ruined crypto and how to fix it” is an important and visionary, yet grounded, book on how blockchains, used correctly, are a tremendous gift to anti-capitalist organizing. Anyone wanting to build working class unity, across time and space, should read it.

In this talk and discussion we review some of the embryonic examples of anti-capitalist initiatives that use the blockchain.

30 mins talk followed by 1 hour of discussion.