In this post, I provide some speculative thoughts and questions on the nature of fictitious capital. I have only read Marx’s incomplete discussion of the concept in Capital and listened to David Harvey’s discussion in his Volume II class, so these thoughts will not take into account most current research on the topic. The best […]
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Capital Volume II: Class 9
Readings: Capital II, ch. 15-17 “If we were to consider a communist society in place of a capitalist one, then money capital would immediately be done away with, and so too the disguises that transactions acquire through it. The matter would be simply reduced to the fact that the society must reckon in advance how […]
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Capital Volume II: Class 6
Reading: Capital III, ch. 21-26 For Marx, interest-bearing capital is a special form of capital. It has the peculiar quality, much like labor-power, that the consumption of its use-value is productive of surplus-value. This is the basis of interest in the capitalist system. Interest is simply the price paid for capital that can produce surplus-value. […]
World of Lenidzky 