As early as 400 years ago, English goldsmiths began to create paper money by administering their customers’ gold coins and issuing a kind of certificate on them (indicating the amount of gold they had stored) and then lending it as …
Capitalism was always, and will never cease to be exploitative, domineering, speculative. But it will not disintegrate or decay due to its exploitative, domineering, speculative character, certainly not due to the supposedly specifically “predatory” function of the financial sphere – …
Value, Fictitious Capital and Finance.The timeliness of Karl Marx’s Capital
… Most commentators agree on one point: that financial firms do not produce value but appropriate it from value produced elsewhere. They are in some sense not ‘normal capitalists’. This is true, but they do not function without capital. The …
THE PROFIT RATE IN THE PRESENCE OF FINANCIAL MARKETS: A NECESSARY CORRECTION
Einleitung Im Beitrag über das zinstragende Kapital wurde dieses als die basale und allgemeine Gestalt des Kredits untersucht sowie die spezifische Form, die es im Aktienkapital annimmt. Auf allgemeinste Weise wurden damit die beiden prinzipiell möglichen Formen der Außenfinanzierung1 entwickelt: …