Date: Tue, 25 Apr 1995 22:58:02 -0800 From: jones/bhandari <djones-AT-uclink.berkeley.edu> Subject: globalization/fictitious K In an extremely important recent post (below) Jena See introduced what some have analyzed as fictitious capital. The business pages are filled of course with references to a disarticulation between the real and symbolic economy. Here are some critical works on fictitious capital. See the entry "Fictitous Capital" by Suzanne deBrunhoff in The New Palgrave: Marxian Economics, ed. John Eatwell (NY: Norton, 199) Horace Robins, Fictive Capital and Fictive Profit (NY: Philosophical Library, 1974 Robert Guttmann, How Credit-Money Shapes the Economy (Armonk, NY: Sharpe, 1994) Walter Daum, The Life and Death of Stalinism: A Resurrection of Marxist Theory (NY: Socialist Voice Publishing Company,1990) Paul Mattick, Economic, Politics and the Age of Inflation (Armonk, NY: Sharpe, 1977) An interesting critical work, though at the level of anecdotes and appearances, is Joel Kurtzman, The Death of Money: How the Electronic Economy Has Destablized the World's Markets and Created Financial Chaos (NY: Simon and Schuster, 1993) I wish I had the skills to go right through these books and review them for the line. But I hope someone continues to probe the very important problem Jena has raised for the line. Rakesh > Marxist analysis on capital and labor >power definitely needs to take a new perspective simply because of the fact >the labor power no longer determines price, profit, or the rate of currency. >The presence of a 'false economy' (particularly one that is global) seems as >if it could be the death throes of capitalism. But if capitalism can create >and sustain itself (for now) on an economy that is not based on labor power >and trades more material wealth than actually exists, does that mean that it >will just find ways to continue even though crisis? (This is a question for >those who might argue that capitalism will eventually just collaspe upon >itself) > >Jena See > > > --- from list marxism-AT-lists.village.virginia.edu --- --- from list marxism-AT-lists.village.virginia.edu --- ------------------
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