>>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

Reply via email to