Bichler, Shimshon, and Jonathan Nitzan. 2012. Capital as Power: Toward a New Cosmology of Capitalism. Real-World Economics Review (61, September): 65-84.
[https://bnarchives.yorku.ca/343/]
The theory of capital as power offers a alternative to the bifurcation. It argues that capital is not a narrow productive entity, but a symbolic quantification of power. It presentes the organized and relative power of dominant interest group to create the order of (cre-order) the society, which leads to a different cosmology of capitalism. It provides a new theoretical framework based on the twin notion of dominant capital and differential accumulation and a new historical dynamics of the capitalist mode of power.
[这种二分法的消除让我非常惊喜。虽然后凯的理论中弥漫着权力关系，但其并没有成为分析的起点，以致于后凯似乎一直没有细致地考虑过政治问题（当然大概率可能是我读得太少了），而且似乎太过于相信政府了。后凯有很多好政策，但其实践不仅仅与经济相关。]
Capitalist regime is inextricably bound up with its theories and ideologies that constitutes an entire cosmology, the Kosmeo pertaining the social order and creorder. With the feudalism giving way to a full-fledged capitalism, there emerged autonomous power instead of assumed heteronomous secular force. There is no automaticity to produce hedonic pleasure,and no quantum of dead labour. Capital is power and capitalism is a mode of power.
The primacy of power is built right into the definition of private ownership, the intituitional exclusion. Capitalism is based on private ownership and anything privately owened can be priced, implying that as private ownership spreads socially, price becomes the universal numerical unit. The pattern is created through capitalization, the generative order of capitalism and the creordering algorithm.
[这种权力由资本化量化为价格的形式，我认为，与后凯的微观基础是契合的，N&B本身就受Kalecki-Steindl-Baran-Sweezy的影响。后凯的成本加成定价就是依赖于权力关系，只是我还不知道后凯如何看待金融资产定价的。]
Capitalization is a symbolic financial entity, a ritual used to discount to present value risk-adjusted expected future earnings. This ritual is historical and operatinal-computational symbol created and imposed as an active and synthetic calculation unlike a passive representation. Since income streams for capitalization are generated by social reality, nothing escapes the process of discounting. Therefore, the ultimate problem is not to exercised exclusion, rather the right to exclude and to claim pecuniary interest for not exercising the right. Then, the organized power of capital distils these numerous qualitative processes down to the universal magnitude of capitalization.
[这意味着金融才是资本主义的核心，即使dominant capital还要面对生产的实现问题。]
The object of capitalized power takes root in a conceptual distinction between industry and business, and the former is understood as the collective knowledge and creative effort of humanity, and the latter achieves its goal through the threat and exercise of systemic prevention and restriction, the strategic sabotage. Hence, the relationship between them becomes nonlinear.
If industry came to a complete standstill at the bottom left corner of the chart, capitalist earnings would be nil. But capitalist earnings would also be zero if industry always and everywhere operated at full socio-technological capacity - depicted by the bottom right corner of the chart. There is the ideal Goldilocks condition with the highest earnings and restrict productive potential implying involuntary unemployment.
[这其实回答了后凯关于哈罗德不稳定性的问题：围绕着正常产能利用率的动荡过程是必要的。]
Because the accumulation by sabotage is based on the capitalist power that is always relative, both qualitative and quantitative aspects of capital accumulation is differentially, which means to beat the average and exceed the normal rate of return for increase in power.
[这也意味着，真实世界的竞争并不是完全/不完全形式，而是差异权力竞争。只是在这一篇中我不会再深入Capital as Power的Breadth & Depth的概念。]
Now we can see the fresh cosmology of capital as power. Capital is power and capitalism is the mode of power. Perhaps this understanding of what our society is could help us make it what we want it to be.
资本即权力：
阅读原文为论文链接。
