Seems to me you do in fact get the distinction between productive capital and speculative capital. A good Ponzi scheme is not back until it collapses. Profits to be made from that side of the business constituting productive capital has never been bad business. On the other hand this category called "industrial capital sector" or a "crack between industrial capital and finance (finance!!)" is well . . .
Industry = industrial capital. How amusing. The industrial capitalists can be found in your local museum, standing to the left of the merchant capitalist. Wait a minute. Because GE also sells commodities and some one must sell these commodities to the consumer, its capital is really a form of merchant capital because someone brought the product from GE, and sold it to someone else. Buy such a thinking man a beer. I did follow some of the links CB provided and it seem to me he had not read them. Waistline In a message dated 1/7/2009 1:12:16 A.M. Eastern Standard Time, jann...@gmail.com writes: >>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 **************New year...new news. Be the first to know what is making headlines. (http://www.aol.com/?ncid=emlcntaolcom00000026) _______________________________________________ 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
