>>Speculation as speculative capital, denotes something different than speculation - risk taking, on the part of finance capital during the era of Lenin. Speculative capital as a concept means investment and risk taking on the basis of financial institutions more than less detached from production of commodities. Speculative capital as a form and sector of capital rises to domination on the basis of revolution in the productive forces.<<
The irony is--I would bet my money!--that so much money pours into speculative finance because the motive behind moving the money is thinking like this: this is a surer and higher return on my money than anything else, including direct investment into something producing a good or service. Take GE, it makes most of its money (or at least up until recently) as a straightforward finance capital firm through its financial arms. It also makes money manufacturing for military, governments or for markets where it almost enjoys a monopoly. And one of the best ways to make money manufacturing for the US military is simply to win the big contract and then squeeze profits out of all the sub-contractors who actually do all the work. CJ _______________________________________________ Marxism-Thaxis mailing list Marxism-Thaxis@lists.econ.utah.edu To change your options or unsubscribe go to: http://lists.econ.utah.edu/mailman/listinfo/marxism-thaxis
