A lack of space—The birth-crises of ultracapital

Jon Cloke

Research in International Business and Finance, 2017, vol. 41, issue C, 239-246

Abstract: This analysis continues a series of pieces by the author on a theoretical research optic referred to as ultracapital, an analytical take on the mass of information concerning global financial services processes, markets and activities that became more widely available following the global systemic crisis of 2007–2008. The proposal suggested that orthodox economic analysis derived from the neoclassical mainstream was incapable of explaining the evolutionary features of the crisis, or indeed what was ‘really going on’ with 21st Century capitalism; an ideological and social construct, economic orthodoxy was incapable of addressing the agency of two critical aspects , space and connectivity. This re-envisioning began with the proposal that the ICT revolution of the 1990s has equipped globalizing capitalism with a new dimension in cyberspace of activities and processes that now dominate the older dimensions of capitalist endeavour, a revolution that occurred just as the collapse of the socialist bloc in 1989–1990 released the final fetters on capitalism itself from the restraints imposed over a hundred years by the existence of an alternative social reality.

Keywords: Ultracapital; Crisis; Evolution; Cyberspace; Space; Connectivity (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:41:y:2017:i:c:p:239-246

DOI: 10.1016/j.ribaf.2017.04.028

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