For example, Bichler and Nitzan (2002, 2009) have shown that *capitalization* is the elementary algorithm of capitalism.
The formulas to estimate the present value presuppose a state of affairs, but do not seek to describe it. Rather, they tell a group of individuals how to act. **Pronounced under the right conditions (like the statement of the judge) these sentences trigger a specific social practice.** As they generalized, these statements have founded a whole discipline: Finance, the theoretical dimension of the practice of capital accumulation. At the performative level, the basic capitalization equation, K = E / r, transforms social reality: it contributes to the expansion and reproduction of the code of capital.
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SUASTE CHERIZOLA, Jesús, 2021. From Commodities to Assets: Capital as Power and the Ontology of Finance. Review of Capital as Power. 2021. Vol. 2, no. 1, p. 1–29. * Winner of the 2021 RECASP Essay Prize *
> Assets are a crucial concept of the practice and mindset of the capitalist class. Critical analyses of Capitalism, however, tend to admit that the exchange of commodities is the foundation of the analysis of capitalism. This article takes a different approach. I claim that assets offer a solid starting point for a scientific research of capitalism. The analysis of assets allows us to elaborate a general description of economic transactions and, to that extent, it lays the groundwork for reconceptualizing the field of Finance. These two issues are closely related. The answer to the question, ‘what are Assets?’, will give us the coordinates to address the question: ‘what is finance?’
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