Theorists and policymakers from all directions and of all persuasions remain obsessed with the prospect of recovery. For mainstream economists, the key question is how to bring about such a recovery. For heterodox political economists, the main issue is whether sustained growth is possible to start with. But there is a prior question that nobody seems to ask: can capitalists afford recovery in the first place? If we think of capital not as means of production but as a mode of power, we find that accumulation thrives not on growth and investment, but on unemployment and stagnation. And if accumulation depends on crisis, why should capitalists want to see a recovery?

Jonathan Nitzan is a professor of political economy at York University in Toronto and co-author, with Professor Shimshon Bichler, of Capital as Power: A Study of Order and Creorder.

This event is free and open to all with no ticket required. Entry is on a first come, first served basis. For any queries contact Dr Sandy Hager, email S.B.Hager@lse.ac.uk or call 020 7955 7379. If you wish to join a friendly dinner after the event (at your own expense), kindly RSVP to Dr Hager.

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